New York Life Investment Management LLC Sells 174 Shares of Generac Holdings Inc. (NYSE:GNRC)

New York Life Investment Management LLC lowered its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,541 shares of the technology company’s stock after selling 174 shares during the period. New York Life Investment Management LLC’s holdings in Generac were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GNRC. Ariel Investments LLC raised its holdings in shares of Generac by 14.9% during the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock valued at $219,047,000 after purchasing an additional 261,050 shares during the last quarter. Invesco Ltd. lifted its holdings 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 buying an additional 147,523 shares during the period. Impax Asset Management Group plc boosted its stake in shares of Generac by 3.3% in 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 buying an additional 37,846 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Generac by 9.0% in the third quarter. Northern Trust Corp now owns 673,384 shares of the technology company’s stock worth $73,372,000 after acquiring an additional 55,812 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Generac by 42.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 650,139 shares of the technology company’s stock valued at $70,839,000 after acquiring an additional 194,265 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GNRC has been the topic of a number of recent analyst reports. UBS Group decreased their price target on Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. OTR Global raised shares of Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. Canaccord Genuity Group boosted their price target on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Canaccord Genuity Group raised their price objective on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Oppenheimer boosted their target price on Generac from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.40.

Generac Price Performance

Generac stock opened at $136.41 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The firm has a 50-day moving average of $125.50 and a two-hundred day moving average of $119.00. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $156.95.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. Generac’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts forecast that Generac Holdings Inc. will post 6.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the transaction, the chief executive officer now owns 592,177 shares in the company, valued at $75,170,948.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

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.