Exchange Traded Concepts LLC Sells 115 Shares of Generac Holdings Inc. (NYSE:GNRC)

Exchange Traded Concepts LLC lessened its stake in Generac Holdings Inc. (NYSE:GNRC) by 16.1% during the fourth quarter, HoldingsChannel reports. The firm owned 600 shares of the technology company’s stock after selling 115 shares during the period. Exchange Traded Concepts LLC’s holdings in Generac were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GNRC. Raymond James Trust N.A. grew its position in shares of Generac by 52.8% in the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock valued at $541,000 after purchasing an additional 1,177 shares in the last quarter. Willis Investment Counsel boosted its stake in Generac by 18.7% in the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after purchasing an additional 16,541 shares during the period. Nordea Investment Management AB purchased a new position in Generac during the 4th quarter valued at about $5,229,000. Global Financial Private Client LLC bought a new stake in shares of Generac during the fourth quarter valued at about $614,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Generac by 85.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after buying an additional 3,244 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the completion of the transaction, the chief executive officer now owns 570,825 shares of the company’s stock, valued at approximately $89,904,937.50. This represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares of the company’s stock, valued at approximately $25,051,789.49. The trade was a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,268 shares of company stock worth $6,744,703 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Generac Stock Down 2.0 %

Shares of Generac stock opened at $149.27 on Friday. The company’s 50 day moving average price is $164.75 and its 200-day moving average price is $161.40. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week 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. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 1.50 and a beta of 1.42.

Generac (NYSE:GNRC) last posted its earnings results 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 return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $1.64 earnings per share. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that Generac Holdings Inc. will post 6.91 EPS for the current year.

Analyst Ratings Changes

GNRC has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler boosted 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. TD Cowen increased their price objective on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Truist Financial decreased their target price on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average target price of $174.30.

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.