Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in Generac Holdings Inc. (NYSE:GNRC) by 21.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,745,186 shares of the technology company’s stock after selling 472,787 shares during the quarter. Fmr LLC owned about 2.93% of Generac worth $277,275,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its holdings in shares of Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. SouthState Corp purchased a new stake in Generac in the third quarter valued at $32,000. Capital Advisors Ltd. LLC boosted its stake in Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after acquiring an additional 220 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares during the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Generac during the second quarter worth about $38,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Performance

Shares of GNRC opened at $188.20 on Monday. The company has a market capitalization of $11.20 billion, a PE ratio of 39.05, a P/E/G ratio of 2.31 and a beta of 1.37. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The company has a 50-day simple moving average of $172.92 and a 200-day simple moving average of $155.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $1.64 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts predict that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the sale, the executive vice president now owns 10,738 shares in the company, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,268 shares of company stock valued at $7,584,853. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. The Goldman Sachs Group lifted their target price on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup increased their price target on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird dropped their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.58.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.