First Trust Direct Indexing L.P. Sells 1,142 Shares of Generac Holdings Inc. (NYSE:GNRC)

First Trust Direct Indexing L.P. trimmed its holdings in Generac Holdings Inc. (NYSE:GNRC) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,713 shares of the technology company’s stock after selling 1,142 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Generac were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ariel Investments LLC raised its position 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 worth $219,047,000 after acquiring an additional 261,050 shares during the last quarter. Invesco Ltd. raised its holdings in Generac by 9.9% during the 3rd quarter. Invesco Ltd. now owns 1,633,226 shares of the technology company’s stock worth $177,956,000 after purchasing an additional 147,523 shares during the last quarter. Impax Asset Management Group plc lifted its position in 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 valued at $127,151,000 after purchasing an additional 37,846 shares during the period. Northern Trust Corp boosted its stake 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 valued at $73,372,000 after purchasing an additional 55,812 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Generac by 42.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 650,139 shares of the technology company’s stock worth $70,839,000 after buying an additional 194,265 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Up 0.5 %

NYSE:GNRC opened at $137.16 on Thursday. The company has a market cap of $8.29 billion, a PE ratio of 37.79, a PEG ratio of 1.82 and a beta of 1.41. The stock has a 50-day simple moving average of $126.02 and a 200 day simple moving average of $119.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $156.95.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.72 by $0.16. The firm had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. On average, sell-side analysts expect that Generac Holdings Inc. will post 6.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on GNRC shares. UBS Group cut their price objective on shares of Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Robert W. Baird raised their price target on Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Roth Mkm lifted their price objective on Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Canaccord Genuity Group increased their target price on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $142.40.

Insider Buying and Selling at Generac

In other 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 sale, the chief executive officer now owns 587,177 shares in the company, valued at approximately $82,175,421.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.80% 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.