Generac Holdings Inc. (NYSE:GNRC) Sees Large Decline in Short Interest

Generac Holdings Inc. (NYSE:GNRC) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 2,620,000 shares, a decrease of 11.8% from the November 15th total of 2,970,000 shares. Approximately 4.5% of the shares of the stock are short sold. Based on an average daily volume of 859,800 shares, the short-interest ratio is presently 3.0 days.

Insider Buying and Selling

In other 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 directly owns 557,177 shares of the company’s stock, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,268 shares of company stock worth $7,584,853. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Generac

A number of institutional investors have recently bought and sold shares of the business. Empirical Finance LLC grew its stake in Generac by 4.1% during the third quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock valued at $268,000 after acquiring an additional 66 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in Generac by 2.4% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock worth $388,000 after acquiring an additional 68 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Generac by 0.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock worth $2,981,000 after acquiring an additional 75 shares in the last quarter. Nicollet Investment Management Inc. boosted its position in shares of Generac by 1.1% during the 3rd quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 82 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in shares of Generac by 6.5% in the third quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock valued at $243,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

Shares of Generac stock traded down $2.06 on Tuesday, hitting $165.11. 500,378 shares of the company’s stock were exchanged, compared to its average volume of 930,444. Generac has a 1 year low of $108.89 and a 1 year high of $195.94. The company has a 50-day simple moving average of $177.34 and a 200-day simple moving average of $157.58. 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 $9.82 billion, a PE ratio of 34.27, a PEG ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, equities analysts anticipate that Generac will post 6.84 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Roth Mkm raised their target price on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler upped their price target on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup raised their price objective on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

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.