Bessemer Group Inc. Sells 13,380 Shares of Generac Holdings Inc. (NYSE:GNRC)

Bessemer Group Inc. trimmed its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 65.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,130 shares of the technology company's stock after selling 13,380 shares during the quarter. Bessemer Group Inc.'s holdings in Generac were worth $903,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GNRC. Bank of New York Mellon Corp boosted its stake in shares of Generac by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 379,859 shares of the technology company's stock valued at $58,897,000 after purchasing an additional 4,352 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Generac in the fourth quarter valued at approximately $4,568,000. QRG Capital Management Inc. bought a new stake in shares of Generac during the fourth quarter worth $297,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Generac during the fourth quarter worth $70,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Generac by 84.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,840 shares of the technology company's stock worth $750,000 after buying an additional 2,210 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GNRC shares. TD Cowen lowered their target price on Generac from $173.00 to $155.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus lowered their price objective on Generac from $200.00 to $195.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group dropped their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird dropped their price target on shares of Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $169.17.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Generac Trading Up 1.2%

Shares of Generac stock traded up $1.75 on Friday, reaching $152.37. 716,859 shares of the company's stock were exchanged, compared to its average volume of 864,550. The company has a market capitalization of $9.00 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 1.37 and a beta of 1.72. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97. The firm's 50-day moving average is $127.72 and its two-hundred day moving average is $134.69.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.27. The business had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. Generac had a net margin of 7.68% and a return on equity of 18.90%. During the same period in the prior year, the firm earned $0.88 earnings per share. Generac's revenue was up 5.9% on a year-over-year basis. Sell-side analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

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.