HighTower Advisors LLC Sells 2,455 Shares of Generac Holdings Inc. (NYSE:GNRC)

HighTower Advisors LLC lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 23.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,001 shares of the technology company’s stock after selling 2,455 shares during the quarter. HighTower Advisors LLC’s holdings in Generac were worth $1,267,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Brooklyn Investment Group bought a new position in Generac in the third quarter valued at $31,000. SouthState Corp bought a new position in Generac in the third quarter valued at $32,000. Capital Advisors Ltd. LLC increased 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 during the last quarter. Finally, Blue Trust Inc. increased its stake in 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 during the last quarter. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GNRC. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Piper Sandler upped their price target on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Citigroup upped their price target on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Truist Financial upped their price target on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Insider Activity

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 sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction dated 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 directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,268 shares of company stock valued at $7,584,853. Company insiders own 2.90% of the company’s stock.

Generac Trading Down 0.0 %

Shares of NYSE GNRC opened at $167.17 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The stock has a market capitalization of $9.95 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 2.09 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 business has a fifty day moving average price of $177.48 and a 200 day moving average price of $157.46.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts expect that Generac Holdings Inc. will post 6.84 EPS for the current fiscal 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.