Bridges Investment Management Inc. Cuts Stake in Generac Holdings Inc. (NYSE:GNRC)

Bridges Investment Management Inc. lessened its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 36.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,247 shares of the technology company's stock after selling 11,165 shares during the quarter. Bridges Investment Management Inc.'s holdings in Generac were worth $2,438,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Atria Investments Inc boosted its holdings in shares of Generac by 19.1% in the 4th quarter. Atria Investments Inc now owns 2,828 shares of the technology company's stock valued at $438,000 after acquiring an additional 453 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Generac in the 4th quarter valued at $4,568,000. Raymond James Financial Inc. acquired a new position in shares of Generac in the 4th quarter valued at $46,785,000. PNC Financial Services Group Inc. lifted its stake in shares of Generac by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,242 shares of the technology company's stock valued at $2,208,000 after purchasing an additional 357 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Generac by 9.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,461 shares of the technology company's stock valued at $3,017,000 after purchasing an additional 1,657 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the transaction, the chief executive officer owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GNRC shares. Canaccord Genuity Group reduced their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird reduced their price objective on shares of Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Generac from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. TD Securities reduced their price objective on shares of Generac from $173.00 to $155.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Guggenheim upgraded shares of Generac from a "sell" rating to a "neutral" rating in a research report on Monday, March 17th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.17.

Generac Price Performance

Shares of Generac stock traded down $0.85 on Friday, hitting $151.14. The company's stock had a trading volume of 241,039 shares, compared to its average volume of 887,646. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The company has a quick ratio of 0.89, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $130.67 and a 200-day moving average price of $134.53. The company has a market capitalization of $8.93 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.72.

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