Adage Capital Partners GP L.L.C. Cuts Stock Holdings in Generac Holdings Inc. $GNRC

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 73.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,358 shares of the technology company's stock after selling 81,200 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Generac were worth $3,718,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Federation des caisses Desjardins du Quebec grew its position in Generac by 2.6% during the first quarter. Federation des caisses Desjardins du Quebec now owns 8,775 shares of the technology company's stock valued at $1,111,000 after buying an additional 223 shares during the period. Perbak Capital Partners LLP purchased a new stake in shares of Generac in the first quarter worth $304,000. EP Wealth Advisors LLC purchased a new stake in shares of Generac in the first quarter worth $352,000. Graham Capital Management L.P. increased its stake in shares of Generac by 36.9% in the first quarter. Graham Capital Management L.P. now owns 5,097 shares of the technology company's stock worth $646,000 after purchasing an additional 1,373 shares in the last quarter. Finally, Energy Income Partners LLC increased its stake in shares of Generac by 3.9% in the first quarter. Energy Income Partners LLC now owns 290,101 shares of the technology company's stock worth $36,741,000 after purchasing an additional 10,946 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Down 0.2%

Shares of NYSE GNRC traded down $0.30 during midday trading on Friday, hitting $187.57. The company's stock had a trading volume of 190,172 shares, compared to its average volume of 925,523. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $203.25. The business's 50 day moving average is $176.30 and its two-hundred day moving average is $142.92. The firm has a market cap of $11.01 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.63. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $1.35 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GNRC. Roth Capital increased their price objective on shares of Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Citigroup reissued a "neutral" rating and issued a $219.00 price objective (up from $138.00) on shares of Generac in a research note on Tuesday, August 26th. Stephens reissued an "overweight" rating and issued a $175.00 price objective on shares of Generac in a research note on Tuesday, May 27th. Guggenheim raised shares of Generac from a "neutral" rating to a "buy" rating and set a $190.00 price objective for the company in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised shares of Generac from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $56.00 to $68.00 in a research note on Monday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Generac has a consensus rating of "Moderate Buy" and an average target price of $174.56.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $181.21, for a total transaction of $906,050.00. Following the transaction, the chief executive officer owned 552,966 shares of the company's stock, valued at approximately $100,202,968.86. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.70% of the company's stock.

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.