Centre Asset Management LLC Has $9.43 Million Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Centre Asset Management LLC reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,834 shares of the technology company’s stock after selling 4,872 shares during the period. Generac comprises about 2.2% of Centre Asset Management LLC’s holdings, making the stock its 19th largest holding. Centre Asset Management LLC owned approximately 0.10% of Generac worth $9,432,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. William Blair Investment Management LLC acquired a new position in shares of Generac during the 2nd quarter worth $98,282,000. The Manufacturers Life Insurance Company raised its holdings in Generac by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after buying an additional 299,205 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Generac in the third quarter worth $45,722,000. International Assets Investment Management LLC increased its position in Generac by 25,311.7% during the third quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after acquiring an additional 266,026 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in Generac by 678.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after purchasing an additional 167,641 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other Generac news, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction 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 $25,051,789.49. This represents a 17.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s 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 completion of the transaction, 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. Insiders have sold 37,268 shares of company stock worth $6,790,203 over the last ninety days. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GNRC. Citigroup boosted their price objective on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird lowered their price target on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus raised their price objective on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Generac Stock Performance

Generac stock traded up $0.37 during mid-day trading on Friday, reaching $157.37. The company’s stock had a trading volume of 106,005 shares, compared to its average volume of 433,851. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The firm’s fifty day moving average price is $173.92 and its two-hundred day moving average price is $158.80. 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 company has a market capitalization of $9.36 billion, a P/E ratio of 32.65, a PEG ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating 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 firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts predict that Generac Holdings Inc. will post 6.84 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.