Commonwealth Equity Services LLC Sells 6,585 Shares of Generac Holdings Inc. $GNRC

Commonwealth Equity Services LLC decreased its stake in Generac Holdings Inc. (NYSE:GNRC) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,846 shares of the technology company’s stock after selling 6,585 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Generac were worth $5,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GNRC. Bank of Montreal Can increased its position in Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after buying an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after buying an additional 536,732 shares in the last quarter. Norges Bank purchased a new stake in Generac in the fourth quarter worth about $68,590,000. Robeco Schweiz AG purchased a new stake in Generac in the fourth quarter worth about $51,020,000. Finally, Victory Capital Management Inc. increased its position 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 worth $355,530,000 after buying an additional 324,809 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GNRC shares. Guggenheim restated a “neutral” rating and issued a $202.00 price target on shares of Generac in a research report on Tuesday, February 10th. Raymond James Financial set a $302.00 price target on Generac in a research report on Friday, May 22nd. Canaccord Genuity Group upped their price target on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group upped their price target on Generac from $270.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $276.88.

Generac Stock Performance

NYSE:GNRC opened at $261.39 on Friday. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a 12-month low of $123.66 and a 12-month high of $294.18. The stock has a 50-day moving average price of $237.45 and a 200 day moving average price of $197.55. The stock has a market capitalization of $15.39 billion, a P/E ratio of 81.94, a P/E/G ratio of 2.60 and a beta of 1.93.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business posted $1.26 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% 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.