Penn Capital Management Company LLC Reduces Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Penn Capital Management Company LLC lessened its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 65.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,847 shares of the technology company's stock after selling 9,004 shares during the quarter. Penn Capital Management Company LLC's holdings in Generac were worth $751,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pinebridge Investments L.P. increased its holdings in Generac by 28.1% in the 4th quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock worth $10,697,000 after purchasing an additional 15,147 shares in the last quarter. Nordea Investment Management AB bought a new stake in Generac during the 4th quarter worth approximately $5,229,000. Global Financial Private Client LLC bought a new position in shares of Generac during the fourth quarter valued at $614,000. Franklin Resources Inc. grew its stake in shares of Generac by 106.1% in the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company's stock worth $4,998,000 after purchasing an additional 14,811 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Generac by 41.4% during the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock worth $29,425,000 after buying an additional 54,202 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company's stock, valued at $82,129,498.75. The trade was a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company's stock.

Generac Stock Performance

Generac stock traded up $1.74 during midday trading on Wednesday, reaching $114.98. The stock had a trading volume of 558,079 shares, compared to its average volume of 861,473. The firm has a market capitalization of $6.85 billion, a PE ratio of 21.29, a P/E/G ratio of 1.44 and a beta of 1.58. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $195.94. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The firm's 50-day moving average price is $123.54 and its 200 day moving average price is $150.83.

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 analysts' consensus estimates of $0.99 by $0.27. The firm had revenue of $942.12 million for the quarter, compared to the consensus estimate of $921.78 million. Generac had a net margin of 7.36% and a return on equity of 18.17%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, research analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GNRC shares. Citigroup raised Generac from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $162.00 to $138.00 in a research note on Thursday, April 17th. Truist Financial cut their price target on shares of Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus dropped their price objective on Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Robert W. Baird dropped their price target on Generac from $172.00 to $171.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler lowered their price objective on shares of Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.40.

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.