Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Needham Investment Management LLC

Needham Investment Management LLC trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 45.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the technology company’s stock after selling 12,500 shares during the quarter. Needham Investment Management LLC’s holdings in Generac were worth $2,383,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new position in shares of Generac during the 3rd quarter worth about $450,000. Harmony Asset Management LLC boosted its holdings in Generac by 2.9% in the third quarter. Harmony Asset Management LLC now owns 4,311 shares of the technology company’s stock valued at $685,000 after purchasing an additional 121 shares in the last quarter. Hilltop Holdings Inc. increased its stake in Generac by 27.3% in the third quarter. Hilltop Holdings Inc. now owns 4,045 shares of the technology company’s stock valued at $643,000 after purchasing an additional 868 shares during the last quarter. Ascent Group LLC raised its holdings in Generac by 4.7% during the third quarter. Ascent Group LLC now owns 4,386 shares of the technology company’s stock worth $697,000 after purchasing an additional 196 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in shares of Generac in the 3rd quarter valued at $1,360,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GNRC has been the subject of several research analyst reports. 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. The Goldman Sachs Group increased their price objective on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stephens reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Generac in a report on Monday, August 5th. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Robert W. Baird dropped their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.58.

Insider Buying and Selling

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The sale 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 company’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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 42,268 shares of company stock valued at $7,584,853. 2.90% of the stock is currently owned by corporate insiders.

Generac Trading Down 0.4 %

NYSE GNRC traded down $0.75 during trading hours on Tuesday, hitting $186.70. 60,843 shares of the company’s stock were exchanged, compared to its average volume of 935,460. 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 firm has a market capitalization of $11.11 billion, a P/E ratio of 38.89, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The business’s 50 day moving average is $173.74 and its 200-day moving average is $155.73. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly 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. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, analysts anticipate that Generac Holdings Inc. will post 6.8 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.