Geode Capital Management LLC Sells 2,389 Shares of Generac Holdings Inc. (NYSE:GNRC)

Geode Capital Management LLC reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,426,928 shares of the technology company’s stock after selling 2,389 shares during the period. Geode Capital Management LLC’s holdings in Generac were worth $226,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in Generac during the third quarter valued at about $31,000. SouthState Corp acquired a new position in shares of Generac during the 3rd quarter worth about $32,000. Sunbelt Securities Inc. boosted its stake in Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. grew its holdings in Generac by 73.5% in the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after buying an additional 97 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after buying an additional 220 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Robert W. Baird decreased their price target on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Citigroup upped their price objective on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Roth Mkm upped their price target on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Generac Stock Down 3.7 %

GNRC opened at $167.25 on Friday. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The firm’s 50-day simple moving average is $177.48 and its 200-day simple moving average is $157.40. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 29,081 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the sale, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This represents a 17.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock worth $7,584,853 in the last three months. Insiders own 2.90% of the company’s stock.

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.