SG Americas Securities LLC Decreases Holdings in Generac Holdings Inc. $GNRC

Key Points

• SG Americas Securities LLC cut its Generac stake by 51.5% in the first quarter, selling 20,509 shares and ending with 19,334 shares worth about $3.78 million.
• Generac reported better-than-expected quarterly results, with EPS of $1.80 versus the $1.33 estimate and revenue of $1.06 billion, up 12.5% year over year.
• Analysts remain constructive on GNRC, with a consensus Moderate Buy rating and an average price target of $282, while several firms recently raised their targets.

SG Americas Securities LLC lowered its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,334 shares of the technology company's stock after selling 20,509 shares during the period. SG Americas Securities LLC's holdings in Generac were worth $3,777,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC grew its holdings in shares of Generac by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company's stock worth $53,190,000 after purchasing an additional 16,229 shares during the last quarter. Private Advisory Group LLC boosted its position in Generac by 26.2% in the 4th quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company's stock valued at $8,016,000 after buying an additional 12,191 shares during the period. Lighthouse Investment Partners LLC grew its stake in Generac by 556.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company's stock worth $8,689,000 after acquiring an additional 43,999 shares in the last quarter. Altman Advisors Inc. purchased a new position in shares of Generac during the third quarter worth approximately $1,807,000. Finally, Blair William & Co. IL increased its position in shares of Generac by 7.2% during the third quarter. Blair William & Co. IL now owns 242,150 shares of the technology company's stock worth $40,536,000 after acquiring an additional 16,182 shares during the period. 84.04% of the stock is owned by institutional investors.

Generac Stock Up 1.5%

Shares of NYSE GNRC opened at $282.71 on Tuesday. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The stock's fifty day simple moving average is $260.82 and its two-hundred day simple moving average is $211.51. The stock has a market capitalization of $16.64 billion, a PE ratio of 88.62, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $1.26 EPS. The business's revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company's stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GNRC. JPMorgan Chase & Co. increased their price objective on Generac from $229.00 to $267.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Jefferies Financial Group reiterated a "buy" rating on shares of Generac in a report on Wednesday, June 3rd. Wells Fargo & Company raised their price target on Generac from $238.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Robert W. Baird set a $311.00 price objective on Generac in a report on Thursday, April 30th. Finally, TD Cowen upped their price objective on shares of Generac from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $282.00.

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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