Generac Holdings Inc. (NYSE:GNRC) Stake Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in Generac Holdings Inc. (NYSE:GNRC) by 5.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,202 shares of the technology company’s stock after selling 573 shares during the period. Victory Capital Management Inc.’s holdings in Generac were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its holdings in shares of Generac by 97.1% during the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares during the period. EntryPoint Capital LLC raised its position in shares of Generac by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after buying an additional 90 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Generac by 73.5% in the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after acquiring an additional 97 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Generac by 611.1% during 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 during the period. Finally, Fairfield Financial Advisors LTD acquired a new stake in Generac in the second quarter worth approximately $38,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Trading Up 1.3 %

Shares of NYSE GNRC opened at $191.58 on Tuesday. The business has a 50 day simple moving average of $168.12 and a 200 day simple moving average of $153.67. Generac Holdings Inc. has a 52 week low of $108.89 and a 52 week high of $195.94. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 2.32 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03.

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

Analysts Set New Price Targets

GNRC has been the subject of several research reports. Stifel Nicolaus raised their target price on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Scotiabank raised their target price on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Wells Fargo & Company upped their price target on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Citigroup boosted their target price on Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $174.58.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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 owns 557,177 shares of the company’s stock, valued at $92,825,688.20. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,268 shares of company stock valued at $7,584,853. Insiders own 2.90% of the company’s stock.

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.