Gagnon Securities LLC Decreases Holdings in Generac Holdings Inc. $GNRC

Gagnon Securities LLC trimmed its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,593 shares of the technology company’s stock after selling 1,968 shares during the period. Generac comprises 2.1% of Gagnon Securities LLC’s investment portfolio, making the stock its 20th largest position. Gagnon Securities LLC owned 0.13% of Generac worth $10,309,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Bank of Montreal Can grew its position in Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after acquiring an additional 639,551 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after acquiring an additional 536,732 shares during the last quarter. Norges Bank bought a new position in Generac during the 4th quarter worth approximately $68,590,000. Robeco Schweiz AG bought a new position in Generac during the 4th quarter worth approximately $51,020,000. Finally, Victory Capital Management Inc. grew its position in Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after acquiring an additional 324,809 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Performance

Shares of GNRC opened at $262.13 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. Generac Holdings Inc. has a one year low of $123.66 and a one year high of $294.18. The firm has a market capitalization of $15.43 billion, a P/E ratio of 82.17, a PEG ratio of 2.41 and a beta of 1.93. The business has a fifty day moving average of $243.76 and a 200 day moving average of $201.53.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Bank of America reduced their price target on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Canaccord Genuity Group raised their price target on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Citigroup lifted their price objective on Generac from $226.00 to $263.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.65.

Insider Transactions at Generac

In other Generac news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the sale, the insider owned 16,108 shares in the company, valued at $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.