D.A. Davidson & CO. lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 25.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,757 shares of the technology company's stock after selling 2,325 shares during the period. D.A. Davidson & CO.'s holdings in Generac were worth $856,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of GNRC. First Horizon Advisors Inc. increased its position in shares of Generac by 13.1% in the 1st quarter. First Horizon Advisors Inc. now owns 787 shares of the technology company's stock valued at $100,000 after acquiring an additional 91 shares during the period. Private Trust Co. NA increased its position in shares of Generac by 42.9% in the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock valued at $38,000 after acquiring an additional 90 shares during the period. Pinnacle Financial Partners Inc increased its position in shares of Generac by 3.9% in the 1st quarter. Pinnacle Financial Partners Inc now owns 53,052 shares of the technology company's stock valued at $6,729,000 after acquiring an additional 1,983 shares during the period. DAVENPORT & Co LLC increased its position in shares of Generac by 77.3% in the 1st quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company's stock valued at $60,077,000 after acquiring an additional 206,311 shares during the period. Finally, Kampmann Melissa S. increased its position in shares of Generac by 4.9% in the 1st quarter. Kampmann Melissa S. now owns 15,915 shares of the technology company's stock valued at $2,016,000 after acquiring an additional 740 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.
Analyst Ratings Changes
GNRC has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their target price on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded Generac from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Guggenheim upgraded Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Robert W. Baird lowered their price objective on Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus decreased their target price on shares of Generac from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.17.
Get Our Latest Analysis on Generac
Generac Trading Up 1.3%
NYSE GNRC opened at $151.17 on Thursday. 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 50-day moving average price of $129.89 and a 200 day moving average price of $134.55. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The stock has a market capitalization of $8.93 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.34 and a beta of 1.72.
Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.27. The company 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%. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. Equities research analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.
Insider Transactions at Generac
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the transaction, the chief executive officer owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. This trade represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.70% of the company's stock.
Generac Company Profile
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Free Report)
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.
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