NewEdge Advisors LLC Has $356,000 Holdings in Generac Holdings Inc. (NYSE:GNRC)

NewEdge Advisors LLC trimmed its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 64.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,297 shares of the technology company's stock after selling 4,076 shares during the period. NewEdge Advisors LLC's holdings in Generac were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GNRC. Evergreen Capital Management LLC boosted its position in Generac by 2.2% during the 4th quarter. Evergreen Capital Management LLC now owns 20,808 shares of the technology company's stock worth $3,226,000 after acquiring an additional 442 shares during the period. Jump Financial LLC bought a new position in Generac during the fourth quarter valued at about $1,074,000. Forest Avenue Capital Management LP bought a new stake in Generac during the fourth quarter worth approximately $49,313,000. Portolan Capital Management LLC grew its stake in Generac by 61.3% in the 4th quarter. Portolan Capital Management LLC now owns 71,342 shares of the technology company's stock valued at $11,062,000 after buying an additional 27,117 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Generac in the fourth quarter worth about $89,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Trading Up 1.6 %

GNRC traded up $1.78 during midday trading on Friday, reaching $114.45. 1,090,037 shares of the company were exchanged, compared to its average volume of 850,981. The stock has a market capitalization of $6.82 billion, a P/E ratio of 21.19, a PEG ratio of 1.44 and a beta of 1.73. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94. The stock's 50-day simple moving average is $122.07 and its 200 day simple moving average is $149.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The company had revenue of $942.12 million during the quarter, compared to the consensus estimate of $921.78 million. During the same period in the prior year, the company earned $0.88 earnings per share. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the transaction, the chief executive officer now directly owns 565,825 shares in the company, valued at $82,129,498.75. This represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on GNRC. Canaccord Genuity Group decreased their price target on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday. TD Securities lowered their price target on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a research note on Thursday. Citigroup raised Generac from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $162.00 to $138.00 in a report on Thursday, April 17th. TD Cowen cut their target price on Generac from $173.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Wells Fargo & Company decreased their price target on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $167.20.

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.