Amalgamated Bank Trims Position in Generac Holdings Inc. (NYSE:GNRC)

Amalgamated Bank reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,213 shares of the technology company’s stock after selling 440 shares during the period. Amalgamated Bank’s holdings in Generac were worth $1,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Greenwood Capital Associates LLC grew its position in Generac by 170.6% during the 3rd quarter. Greenwood Capital Associates LLC now owns 4,478 shares of the technology company’s stock worth $711,000 after purchasing an additional 2,823 shares during the period. Asset Management One Co. Ltd. grew its holdings in Generac by 23.7% during the third quarter. Asset Management One Co. Ltd. now owns 1,147 shares of the technology company’s stock worth $182,000 after acquiring an additional 220 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in Generac during the third quarter valued at approximately $3,346,000. Fernwood Investment Management LLC lifted its holdings in Generac by 10.8% in the third quarter. Fernwood Investment Management LLC now owns 20,819 shares of the technology company’s stock valued at $3,308,000 after acquiring an additional 2,025 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Generac by 3.7% in the third quarter. Janney Montgomery Scott LLC now owns 49,858 shares of the technology company’s stock valued at $7,921,000 after acquiring an additional 1,782 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

NYSE:GNRC opened at $190.32 on Wednesday. The stock has a 50 day moving average price of $161.47 and a 200 day moving average price of $150.85. The stock has a market cap of $11.32 billion, a PE ratio of 39.49, a P/E/G ratio of 2.32 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. Generac Holdings Inc. has a one year low of $102.23 and a one year high of $195.94.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts expect that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Insider Activity

In related news, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock valued at $7,584,853 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

GNRC has been the subject of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $200.00 target price on shares of Generac in a report on Monday, August 5th. Citigroup lifted their price objective on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Truist Financial upped their price objective on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their target price on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Roth Mkm upped their price target on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.10.

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.