Generac Holdings Inc. (NYSE:GNRC) Holdings Trimmed by State Street Corp

State Street Corp cut its holdings in Generac Holdings Inc. (NYSE:GNRC) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,162,994 shares of the technology company’s stock after selling 22,024 shares during the quarter. State Street Corp owned about 3.64% of Generac worth $343,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GNRC. Raymond James Trust N.A. raised its holdings in shares of Generac by 52.8% in the 3rd quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock worth $541,000 after purchasing an additional 1,177 shares in the last quarter. Willis Investment Counsel increased its holdings in shares of Generac by 18.7% in the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after buying an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after acquiring an additional 3,244 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Generac by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock worth $11,324,000 after acquiring an additional 3,426 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Generac in the 3rd quarter worth $3,742,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 29,081 shares of Generac 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 transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,268 shares of company stock valued at $7,584,853. Corporate insiders own 2.90% of the company’s stock.

Generac Stock Performance

GNRC stock opened at $176.83 on Tuesday. The firm has a 50 day moving average of $176.57 and a two-hundred day moving average of $156.85. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 2.18 and a beta of 1.39. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Piper Sandler upped their price objective on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Roth Mkm lifted their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and an average price target of $175.30.

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.