Proficio Capital Partners LLC Decreases Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Proficio Capital Partners LLC cut its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 89.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,087 shares of the technology company's stock after selling 26,373 shares during the period. Proficio Capital Partners LLC's holdings in Generac were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new position in shares of Generac in the 1st quarter worth $1,150,000. PFG Advisors raised its position in shares of Generac by 42.6% in the 1st quarter. PFG Advisors now owns 3,596 shares of the technology company's stock worth $455,000 after acquiring an additional 1,074 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Generac by 2.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,167 shares of the technology company's stock worth $654,000 after acquiring an additional 110 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Generac in the 1st quarter worth $243,000. Finally, Formidable Asset Management LLC raised its position in shares of Generac by 5.7% in the 1st quarter. Formidable Asset Management LLC now owns 2,885 shares of the technology company's stock worth $365,000 after acquiring an additional 156 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GNRC. Robert W. Baird reduced their price target on Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen upgraded Generac from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. TD Cowen dropped their target price on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Roth Capital boosted their target price on Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Generac from $141.00 to $144.00 and gave the stock a "neutral" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.58.

Generac Stock Performance

Shares of GNRC traded up $0.60 during mid-day trading on Thursday, reaching $153.52. The company had a trading volume of 524,439 shares, compared to its average volume of 882,988. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. 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 stock has a market capitalization of $9.07 billion, a P/E ratio of 26.75, a PEG ratio of 1.35 and a beta of 1.72. The stock has a 50 day moving average of $135.92 and a two-hundred day moving average of $134.18.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.90% and a net margin of 7.68%. The firm had revenue of $942.12 million for the quarter, compared to the consensus estimate of $921.78 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company's revenue was up 5.9% compared to the same quarter last year. On average, analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was 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 in the company, valued at $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by 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.