Generac Holdings Inc. (NYSE:GNRC) Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC reduced its stake in Generac Holdings by 5.5%, now owning approximately 0.15% of the company valued at about $11.67 million.
• Generac reported better-than-expected earnings for the last quarter, with $1.65 earnings per share surpassing analysts' estimates of $1.33, and revenues of $1.06 billion beat expectations of $1.03 billion.
• The stock has received a mix of ratings from analysts, with thirteen analysts rating it as a buy and an average target price of $174.28.

LPL Financial LLC trimmed its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,102 shares of the technology company's stock after selling 5,390 shares during the period. LPL Financial LLC owned approximately 0.15% of Generac worth $11,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Forest Avenue Capital Management LP purchased a new stake in shares of Generac in the fourth quarter valued at $49,313,000. Raymond James Financial Inc. acquired a new position in shares of Generac during the 4th quarter worth about $46,785,000. DAVENPORT & Co LLC increased its stake in Generac by 77.3% during the first 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. Clean Energy Transition LLP acquired a new stake in Generac during the fourth quarter valued at approximately $31,433,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Generac by 27.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock valued at $110,544,000 after purchasing an additional 153,141 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Stock Performance

Shares of NYSE:GNRC opened at $193.43 on Friday. The company's 50 day simple moving average is $147.65 and its 200 day simple moving average is $135.62. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $199.89.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 earnings per share. As a group, research analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Analyst Ratings Changes

GNRC has been the topic of several research reports. Guggenheim raised 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. Stephens restated an "overweight" rating and issued a $175.00 price objective on shares of Generac in a research report on Tuesday, May 27th. Wells Fargo & Company increased their target price on Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. 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 note on Thursday, May 1st. Finally, Stifel Nicolaus raised their target price on shares of Generac from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $174.28.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business'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 sale, the chief executive officer owned 562,966 shares of the company's stock, valued at $80,166,358.40. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

About Generac

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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