Generac Holdings Inc. $GNRC Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC reduced its stake in Generac Holdings Inc. by 8.3%, selling 39,223 shares, bringing their total ownership to approximately 0.73% valued at $61.86 million.
• Generac recently saw a mix of positioning changes among institutional investors, including Invesco Ltd. increasing its stake by 25.3% and Jones Financial Companies boosting its holdings by an impressive 5,071.6%.
• Generac's stock has an average rating of "Moderate Buy" from analysts, with recent price targets from TD Cowen and Stifel Nicolaus set at $198.00 and $210.00, respectively.

DAVENPORT & Co LLC lessened its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 8.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 433,824 shares of the technology company's stock after selling 39,223 shares during the period. DAVENPORT & Co LLC owned approximately 0.73% of Generac worth $61,855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its position in Generac by 25.3% in the first quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock valued at $179,148,000 after purchasing an additional 285,388 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Generac by 5,071.6% in the 1st quarter. Jones Financial Companies Lllp now owns 250,306 shares of the technology company's stock valued at $31,701,000 after buying an additional 245,466 shares during the period. Nuveen LLC purchased a new stake in shares of Generac in the first quarter valued at approximately $23,375,000. Federated Hermes Inc. boosted its stake in shares of Generac by 51.0% in the first quarter. Federated Hermes Inc. now owns 458,335 shares of the technology company's stock valued at $58,048,000 after buying an additional 154,867 shares in the last quarter. Finally, Ariel Investments LLC grew its holdings in Generac by 10.1% during the first quarter. Ariel Investments LLC now owns 1,615,878 shares of the technology company's stock worth $204,651,000 after acquiring an additional 148,551 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 subject of a number of recent analyst reports. TD Cowen raised their target price on Generac from $155.00 to $198.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Generac in a report on Saturday, September 27th. Guggenheim raised shares of Generac from a "neutral" rating to a "buy" rating and set a $190.00 price objective on the stock in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Generac from $165.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Finally, Stifel Nicolaus lifted their price target on shares of Generac from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $184.11.

Generac Stock Performance

NYSE:GNRC opened at $165.84 on Monday. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $9.73 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.64. The firm has a 50-day moving average price of $183.82 and a two-hundred day moving average price of $147.71. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.35 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. As a group, research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total value of $837,100.00. Following the sale, the chief executive officer directly owned 547,966 shares in the company, valued at $91,740,467.72. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

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.

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