Bridges Investment Management Inc. Trims Holdings in Generac Holdings Inc. $GNRC

Bridges Investment Management Inc. lessened its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 23.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,158 shares of the technology company’s stock after selling 4,592 shares during the period. Bridges Investment Management Inc.’s holdings in Generac were worth $2,067,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted 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 valued at $130,825,000 after acquiring an additional 536,732 shares in the last quarter. Norges Bank bought a new stake in Generac during the 4th quarter valued at approximately $68,590,000. Robeco Schweiz AG bought a new stake in Generac during the 4th quarter valued at approximately $51,020,000. Victory Capital Management Inc. boosted 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 valued at $355,530,000 after acquiring an additional 324,809 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in Generac by 346.6% during the 2nd quarter. Holocene Advisors LP now owns 356,623 shares of the technology company’s stock valued at $51,072,000 after acquiring an additional 276,775 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

NYSE GNRC opened at $285.29 on Thursday. The business’s fifty day moving average price is $234.94 and its 200-day moving average price is $196.20. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 89.43, a PEG ratio of 2.66 and a beta of 1.93. 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 1-year low of $123.66 and a 1-year high of $294.18.

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

Analysts Set New Price Targets

Several analysts have weighed in on GNRC shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a research report on Tuesday. UBS Group lifted their price objective on Generac from $270.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Barclays lifted their price objective on Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, March 27th. Wells Fargo & Company lifted their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Raymond James Financial set a $302.00 price objective on Generac in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.88.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by insiders.

Generac Profile

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.