Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC trimmed its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 931 shares of the technology company’s stock after selling 79 shares during the quarter. Nemes Rush Group LLC’s holdings in Generac were worth $123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC raised its position in Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares during the period. Capital World Investors purchased a new position in Generac in the 4th quarter valued at about $155,707,000. Kampmann Melissa S. acquired a new stake in Generac in the 4th quarter worth about $750,000. Bank of Nova Scotia increased its stake in Generac by 1,350.9% during the 4th quarter. Bank of Nova Scotia now owns 32,559 shares of the technology company’s stock worth $4,208,000 after buying an additional 30,315 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new position in shares of Generac during the first quarter valued at approximately $1,053,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GNRC. Scotiabank lifted their price target on Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Piper Sandler reaffirmed an “overweight” rating and set a $175.00 target price on shares of Generac in a report on Tuesday, September 24th. Wells Fargo & Company raised their price target on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Roth Mkm upped their price objective on shares of Generac from $135.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group raised their target price on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $154.71.

Generac Price Performance

Generac stock opened at $154.84 on Monday. The company’s 50 day simple moving average is $148.58 and its 200-day simple moving average is $140.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $169.57. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 42.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. As a group, equities research analysts expect that Generac Holdings Inc. will post 6.5 earnings per share for the current year.

Generac Company 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.