Capital World Investors Lowers Holdings in Generac Holdings Inc. $GNRC

Key Points

• Capital World Investors cut its stake in Generac by 85.9% in Q3, selling 347,845 shares and leaving it with 57,248 shares (about 0.10% of the company) valued at roughly $9.58 million.
• CFO York A. Ragen sold 24,362 shares on Feb. 25 at an average price of $235.61 for about $5.74 million, a 15.08% reduction that leaves him with 137,182 shares; company insiders now own 2.70% of the stock.
• Generac missed quarterly expectations with EPS of $1.61 vs. $1.81 and revenue of $1.09 billion vs. $1.16 billion (revenue down 11.6% YoY); analysts' consensus is a Moderate Buy with an average price target of $222.06.

Capital World Investors decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 85.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,248 shares of the technology company's stock after selling 347,845 shares during the quarter. Capital World Investors owned about 0.10% of Generac worth $9,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. Fieldview Capital Management LLC acquired a new stake in shares of Generac during the 3rd quarter worth about $301,000. Swiss National Bank lifted its position in Generac by 0.5% in the third quarter. Swiss National Bank now owns 114,500 shares of the technology company's stock valued at $19,167,000 after buying an additional 600 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Generac by 133.0% in the third quarter. Russell Investments Group Ltd. now owns 32,559 shares of the technology company's stock valued at $5,450,000 after buying an additional 18,585 shares during the last quarter. Inceptionr LLC purchased a new position in Generac during the third quarter worth about $852,000. Finally, Private Advisor Group LLC increased its position in shares of Generac by 20.6% during the third quarter. Private Advisor Group LLC now owns 8,661 shares of the technology company's stock valued at $1,450,000 after acquiring an additional 1,478 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the transaction, the chief financial officer directly owned 137,182 shares of the company's stock, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

GNRC has been the topic of a number of research analyst reports. Roth Mkm reissued a "neutral" rating and issued a $220.00 price target on shares of Generac in a research note on Thursday, February 12th. Canaccord Genuity Group set a $275.00 price objective on shares of Generac in a research report on Thursday, February 12th. Needham & Company LLC began coverage on shares of Generac in a report on Monday, January 12th. They issued a "buy" rating and a $211.00 target price for the company. Robert W. Baird set a $292.00 price target on Generac in a research note on Thursday, February 12th. Finally, UBS Group restated a "buy" rating and set a $270.00 price target on shares of Generac in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.06.

Generac Price Performance

Shares of GNRC opened at $203.96 on Friday. The company has a market cap of $11.97 billion, a P/E ratio of 76.10, a PEG ratio of 1.55 and a beta of 1.74. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $241.09. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. The firm's 50 day moving average price is $189.98 and its 200 day moving average price is $174.43.

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

Generac Company Profile

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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