Generac Holdings Inc. $GNRC Shares Sold by Letson Investment Management Inc.

Key Points

• Letson Investment Management cut its stake in Generac by 28.3%, selling 4,988 shares and leaving it with 12,666 shares valued at about $1.727M per its latest 13F filing.
• Generac posted an EPS miss of $1.61 vs. $1.81 expected and revenue of $1.09B (down 11.6% year-over-year); the stock trades around $214 with a market cap of $12.56B and a PE of ~79.9.
• CFO York A. Ragen sold 24,362 shares for about $5.74M (a 15.08% decline in his holdings), institutional investors own ~84.04% of the stock, and analysts' consensus is a Moderate Buy with an average target of $233.94.

Letson Investment Management Inc. decreased its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,666 shares of the technology company's stock after selling 4,988 shares during the period. Letson Investment Management Inc.'s holdings in Generac were worth $1,727,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GNRC. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Generac during the 3rd quarter valued at about $26,000. First Horizon Corp purchased a new position in Generac during the 3rd quarter valued at about $28,000. Sentry Investment Management LLC increased its holdings in Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in Generac during the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Stock Performance

Shares of NYSE GNRC opened at $214.09 on Wednesday. The company has a market cap of $12.56 billion, a PE ratio of 79.89, a price-to-earnings-growth ratio of 2.15 and a beta of 1.78. Generac Holdings Inc. has a 12 month low of $107.33 and a 12 month high of $241.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. The company has a 50-day simple moving average of $210.83 and a 200-day simple moving average of $178.91.

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 analysts' consensus estimates of $1.81 by ($0.20). The firm had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The business's quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 earnings per share. On average, equities analysts anticipate that Generac Holdings Inc. will post 8.42 earnings per share for the current year.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares in the company, valued at $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on GNRC. Wells Fargo & Company raised their target price on shares of Generac from $234.00 to $238.00 and gave the company an "overweight" rating in a report on Thursday, March 26th. Zacks Research upgraded shares of Generac from a "strong sell" rating to a "hold" rating in a report on Thursday, February 19th. Jefferies Financial Group began coverage on shares of Generac in a report on Friday, March 20th. They set a "hold" rating and a $222.00 target price for the company. Barclays raised their target price on shares of Generac from $213.00 to $228.00 and gave the company an "equal weight" rating in a report on Friday, March 27th. Finally, Citigroup dropped their target price on shares of Generac from $237.00 to $226.00 and set a "neutral" rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.94.

About Generac

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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