MetLife Investment Management LLC Reduces Stock Position in Generac Holdings Inc. (NYSE:GNRC)

MetLife Investment Management LLC trimmed its holdings in Generac Holdings Inc. (NYSE:GNRC) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,927 shares of the technology company’s stock after selling 544 shares during the period. MetLife Investment Management LLC’s holdings in Generac were worth $2,689,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GNRC. Sunbelt Securities Inc. grew its position in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after acquiring an additional 100 shares during the period. Brooklyn Investment Group purchased a new position in Generac in the third quarter worth approximately $31,000. SouthState Corp purchased a new position in shares of Generac during the third quarter worth $32,000. Capital Advisors Ltd. LLC boosted its position 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 worth $34,000 after buying an additional 220 shares during the period. Finally, Blue Trust Inc. boosted its position 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 buying an additional 97 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the transaction, the chief executive officer now owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s 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 transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This 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. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GNRC has been the subject of several research analyst reports. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Citigroup raised their price target on Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price target on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler increased their price objective on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group increased their price objective on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.30.

Generac Stock Performance

Shares of GNRC stock opened at $182.59 on Thursday. The stock’s 50-day moving average is $175.16 and its two-hundred day moving average is $156.21. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 2.30 and a beta of 1.39. Generac Holdings Inc. has a 1 year low of $108.89 and a 1 year high of $195.94. 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 issued 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. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 earnings per share. Analysts predict that Generac Holdings Inc. will post 6.8 earnings per share for the current year.

Generac Company 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.