Essex Investment Management Co. LLC Sells 16,676 Shares of Generac Holdings Inc. (NYSE:GNRC)

Essex Investment Management Co. LLC reduced its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,895 shares of the technology company's stock after selling 16,676 shares during the quarter. Generac makes up about 1.1% of Essex Investment Management Co. LLC's portfolio, making the stock its 18th largest position. Essex Investment Management Co. LLC owned 0.07% of Generac worth $5,673,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ariel Investments LLC lifted its holdings in shares of Generac by 14.9% in the 3rd quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company's stock worth $219,047,000 after purchasing an additional 261,050 shares in the last quarter. Invesco Ltd. grew its position in shares of Generac by 9.9% during the 3rd quarter. Invesco Ltd. now owns 1,633,226 shares of the technology company's stock valued at $177,956,000 after acquiring an additional 147,523 shares during the period. Impax Asset Management Group plc increased its stake in shares of Generac by 3.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,172,742 shares of the technology company's stock worth $127,151,000 after purchasing an additional 37,846 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Generac by 9.0% in the 3rd quarter. Northern Trust Corp now owns 673,384 shares of the technology company's stock worth $73,372,000 after purchasing an additional 55,812 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Generac by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 665,629 shares of the technology company's stock valued at $86,026,000 after purchasing an additional 15,490 shares during the period. Institutional investors own 84.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GNRC. Canaccord Genuity Group upped their price target on Generac from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, April 5th. TD Cowen decreased their price target on shares of Generac from $165.00 to $144.00 and set an "outperform" rating on the stock in a report on Thursday, February 15th. UBS Group dropped their price objective on Generac from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, February 15th. Oppenheimer upped their target price on Generac from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird lifted their price target on Generac from $112.00 to $129.00 and gave the company a "neutral" rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Generac presently has an average rating of "Moderate Buy" and an average target price of $142.40.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total transaction of $699,750.00. Following the transaction, the chief executive officer now owns 587,177 shares in the company, valued at approximately $82,175,421.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by insiders.

Generac Trading Down 1.2 %

NYSE GNRC traded down $1.64 on Friday, hitting $137.52. The company's stock had a trading volume of 484,530 shares, compared to its average volume of 1,321,601. The firm has a market cap of $8.34 billion, a P/E ratio of 37.88, a PEG ratio of 1.88 and a beta of 1.41. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $156.95. The company's 50-day simple moving average is $127.02 and its 200 day simple moving average is $120.08. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. During the same quarter last year, the firm posted $0.63 earnings per share. The firm's revenue was up .2% on a year-over-year basis. Research analysts predict that Generac Holdings Inc. will post 6.08 EPS for the current fiscal year.

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.

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