Annex Advisory Services LLC Has $980,000 Position in Generac Holdings Inc. $GNRC

Key Points

• Annex Advisory Services LLC sharply reduced its stake in Generac, cutting holdings by 96.3% in Q4 and now owning 7,190 shares worth $980,000 after selling 187,329 shares.
• CFO York A. Ragen sold 24,362 shares on Feb. 25 for about $5.74 million, a 15.08% reduction in his position, leaving him with 137,182 shares valued at roughly $32.3 million.
• Generac missed Q4 estimates (EPS $1.61 vs. $1.81 est.; revenue $1.09B vs. $1.16B, down 11.6% YoY), while analysts maintain a "Moderate Buy" consensus with an average target of $229.94 and individual targets up to $300 as the stock trades near $204.

Annex Advisory Services LLC cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 96.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,190 shares of the technology company's stock after selling 187,329 shares during the period. Annex Advisory Services LLC's holdings in Generac were worth $980,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GNRC. DAVENPORT & Co LLC lifted its holdings in Generac by 4.4% during the 4th quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company's stock worth $53,190,000 after buying an additional 16,229 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Generac during the 3rd quarter worth about $70,744,000. Strs Ohio lifted its stake in shares of Generac by 583.4% in the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company's stock valued at $9,725,000 after purchasing an additional 49,595 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Generac by 2.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company's stock valued at $100,031,000 after purchasing an additional 15,280 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Generac by 30.5% in the 3rd quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company's stock valued at $14,501,000 after purchasing an additional 20,270 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Generac in a research note on Thursday, January 22nd. Canaccord Genuity Group boosted their price objective on Generac from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. UBS Group reissued a "buy" rating and issued a $270.00 price objective on shares of Generac in a research note on Friday, February 13th. Robert W. Baird set a $292.00 target price on Generac in a research report on Thursday, February 12th. Finally, Bank of America decreased their target price on Generac from $260.00 to $248.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Generac presently has a consensus rating of "Moderate Buy" and an average target price of $229.94.

Generac Stock Performance

Shares of GNRC opened at $203.93 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The stock has a 50 day moving average price of $208.31 and a two-hundred day moving average price of $177.57. The firm has a market capitalization of $11.97 billion, a P/E ratio of 76.09, a P/E/G ratio of 1.49 and a beta of 1.78. Generac Holdings Inc. has a 52 week low of $104.90 and a 52 week high of $241.09.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.81 by ($0.20). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The business's revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 earnings per share. Equities analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal 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.

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