Tidal Investments LLC Lowers Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Tidal Investments LLC lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 40.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,360 shares of the technology company’s stock after selling 2,273 shares during the quarter. Tidal Investments LLC’s holdings in Generac were worth $534,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Calamos Advisors LLC lifted its stake in shares of Generac by 1.7% in the 2nd quarter. Calamos Advisors LLC now owns 58,723 shares of the technology company’s stock worth $7,764,000 after acquiring an additional 971 shares during the period. Raymond James Trust N.A. raised its stake in shares of Generac by 12.2% during the 2nd quarter. Raymond James Trust N.A. now owns 2,230 shares of the technology company’s stock worth $295,000 after buying an additional 243 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Generac by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 389,227 shares of the technology company’s stock valued at $51,464,000 after buying an additional 12,806 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Generac by 217.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 39,008 shares of the technology company’s stock valued at $5,158,000 after buying an additional 26,719 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Generac by 7.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 33,262 shares of the technology company’s stock worth $4,398,000 after acquiring an additional 2,262 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GNRC. JPMorgan Chase & Co. boosted their target price on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird lowered their target price on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price target on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Roth Mkm upped their price target on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus price target of $175.30.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the sale, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. This represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by company insiders.

Generac Trading Up 0.1 %

GNRC stock opened at $156.26 on Monday. Generac Holdings Inc. has a 52 week low of $108.89 and a 52 week high of $195.94. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.09 and a beta of 1.39. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $176.38 and a 200-day simple moving average of $158.05.

Generac (NYSE:GNRC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $1.64 earnings per share. Generac’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts expect that Generac Holdings Inc. will post 6.84 EPS for the current year.

Generac Profile

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.