Generac Holdings Inc. $GNRC Shares Sold by Capital World Investors

Capital World Investors lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 85.9% in the third quarter, Holdings Channel reports. The fund owned 57,248 shares of the technology company’s stock after selling 347,845 shares during the period. Capital World Investors’ holdings in Generac were worth $9,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. Invesco Ltd. lifted its position in shares of Generac by 40.9% during the 2nd quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock worth $285,338,000 after purchasing an additional 577,933 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Generac during the third quarter worth $70,744,000. Norges Bank purchased a new position in Generac in the second quarter valued at $53,138,000. Victory Capital Management Inc. raised its stake in Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Generac by 63.5% during the 2nd quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock worth $107,314,000 after buying an additional 291,012 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Down 4.1%

Generac stock opened at $203.96 on Friday. The company has a market capitalization of $11.97 billion, a P/E ratio of 76.10, a PEG ratio of 1.55 and a beta of 1.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $241.09. The stock has a 50-day simple moving average of $189.98 and a 200-day simple moving average of $174.43.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $2.80 EPS. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. Equities research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GNRC shares. UBS Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Generac in a report on Friday, February 13th. JPMorgan Chase & Co. upgraded Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price for the company in a research note on Monday, December 8th. Roth Mkm reaffirmed a “neutral” rating and issued a $220.00 price target on shares of Generac in a report on Thursday, February 12th. Wells Fargo & Company increased their price target on shares of Generac from $185.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.06.

Insider Activity

In other news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.70% of the company’s stock.

Generac Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.