Allen Mooney & Barnes Investment Advisors LLC Cuts Holdings in Generac Holdings Inc. (NYSE:GNRC)

Allen Mooney & Barnes Investment Advisors LLC decreased its stake in Generac Holdings Inc. (NYSE:GNRC) by 4.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,729 shares of the technology company’s stock after selling 73 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Generac were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Trust N.A. boosted its position 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 buying an additional 1,177 shares in the last quarter. Willis Investment Counsel increased its stake in shares of Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after purchasing an additional 16,541 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of Generac during the 4th quarter worth approximately $5,229,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Generac by 85.9% in 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 buying an additional 3,244 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Generac by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after buying an additional 3,426 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GNRC has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. TD Cowen raised their price target on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Roth Mkm upped their price objective on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Robert W. Baird lowered their target price on shares of Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Stifel Nicolaus increased their price target on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.80.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’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 sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,268 shares of company stock valued at $7,577,703 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Generac Stock Performance

NYSE:GNRC opened at $160.92 on Wednesday. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The stock has a market cap of $9.57 billion, a P/E ratio of 33.39, a PEG ratio of 2.04 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The firm has a 50-day moving average of $172.48 and a two-hundred day moving average of $160.41.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.70% and a net margin of 7.17%. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. On average, research analysts expect that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

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.