Evercore Wealth Management LLC Reduces Stock Position in Generac Holdings Inc. $GNRC

Evercore Wealth Management LLC trimmed its holdings in Generac Holdings Inc. (NYSE:GNRC) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 386,149 shares of the technology company’s stock after selling 8,866 shares during the period. Generac comprises approximately 1.2% of Evercore Wealth Management LLC’s holdings, making the stock its 25th largest holding. Evercore Wealth Management LLC’s holdings in Generac were worth $75,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Invesco Ltd. grew its position in shares of Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after buying an additional 806,430 shares in the last quarter. State Street Corp raised its holdings in Generac by 2.1% in the second quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after acquiring an additional 45,592 shares in the last quarter. Boston Partners raised its holdings in Generac by 7.1% in the third quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after acquiring an additional 128,439 shares in the last quarter. Geode Capital Management LLC boosted its stake in Generac by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after acquiring an additional 6,332 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Generac by 20.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company’s stock valued at $184,870,000 after acquiring an additional 189,457 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the transaction, the insider directly owned 15,808 shares of the company’s stock, valued at $4,046,848. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,100 shares of company stock valued at $1,651,443 in the last 90 days. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GNRC shares. Zacks Research downgraded shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Canaccord Genuity Group lifted their price target on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings lowered Generac from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, Needham & Company LLC restated a “buy” rating on shares of Generac in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $286.44.

Generac Trading Down 2.4%

NYSE:GNRC opened at $197.06 on Tuesday. The firm has a market capitalization of $11.60 billion, a P/E ratio of 61.78, a P/E/G ratio of 1.89 and a beta of 1.89. The business has a 50 day simple moving average of $255.16 and a 200 day simple moving average of $223.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

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

About Generac

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.