iA Global Asset Management Inc. Trims Holdings in Generac Holdings Inc. (NYSE:GNRC)

iA Global Asset Management Inc. lowered its holdings in Generac Holdings Inc. (NYSE:GNRC) by 64.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,581 shares of the technology company’s stock after selling 2,831 shares during the quarter. iA Global Asset Management Inc.’s holdings in Generac were worth $199,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GNRC. Capital World Investors bought a new position in shares of Generac in the 4th quarter worth about $155,707,000. Norges Bank bought a new position in Generac in the 4th quarter worth about $67,253,000. Wellington Management Group LLP grew its position in Generac by 432.9% during the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after purchasing an additional 318,664 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after buying an additional 214,322 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Generac in the fourth quarter worth approximately $17,956,000. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GNRC has been the subject of a number of research reports. Truist Financial upped their target price on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. TD Cowen lifted their target price on Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer downgraded Generac from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Northland Securities boosted their price objective on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Stifel Nicolaus restated a “buy” rating and set a $175.00 target price (up previously from $145.00) on shares of Generac in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Generac currently has an average rating of “Hold” and a consensus target price of $153.52.

Insider Activity

In other Generac news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the sale, the insider now owns 19,815 shares in the company, valued at approximately $2,889,027. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total value of $9,601,659.00. Following the completion of the sale, the insider now directly owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nam Tran Nguyen sold 546 shares of Generac stock in a transaction on Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the transaction, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The disclosure for this sale can be found here. Insiders sold a total of 75,785 shares of company stock valued at $11,020,661 in the last 90 days. Company insiders own 2.80% of the company’s stock.

Generac Stock Performance

NYSE:GNRC traded down $2.96 during mid-day trading on Friday, hitting $142.54. The company’s stock had a trading volume of 944,244 shares, compared to its average volume of 1,003,771. The business’s fifty day moving average is $145.02 and its two-hundred day moving average is $132.07. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 2.11 and a beta of 1.37. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $169.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The company had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. Generac had a return on equity of 15.38% and a net margin of 6.03%. Generac’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. Analysts anticipate that Generac Holdings Inc. will post 6.16 EPS for the current fiscal year.

Generac 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.