HM Payson & Co. Trims Stake in Generac Holdings Inc. (NYSE:GNRC)

HM Payson & Co. cut its position in Generac Holdings Inc. (NYSE:GNRC) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,366 shares of the technology company’s stock after selling 471 shares during the quarter. HM Payson & Co.’s holdings in Generac were worth $376,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in Generac in the second quarter valued at $98,282,000. International Assets Investment Management LLC increased its position in Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after acquiring an additional 266,026 shares during the period. DAVENPORT & Co LLC raised its stake in Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after acquiring an additional 214,322 shares during the last quarter. Blair William & Co. IL lifted its position in Generac by 29.2% during the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after acquiring an additional 103,439 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Generac by 21.4% in the second quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock valued at $55,548,000 after purchasing an additional 74,115 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares in the company, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Generac Stock Up 2.0 %

GNRC stock opened at $168.91 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. Generac Holdings Inc. has a 12 month low of $98.27 and a 12 month high of $176.14. The firm has a market capitalization of $10.16 billion, a PE ratio of 43.31, a P/E/G ratio of 2.12 and a beta of 1.38. The company’s 50 day simple moving average is $156.93 and its 200-day simple moving average is $147.89.

Generac (NYSE:GNRC) last announced its 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 15.35% and a net margin of 6.03%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts expect that Generac Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $200.00 price target on shares of Generac in a report on Monday, August 5th. Piper Sandler raised their target price on shares of Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Canaccord Genuity Group boosted their price target on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Roth Mkm raised their price objective on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Citigroup lifted their price objective on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $169.10.

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.