Sumitomo Mitsui Trust Group Inc. Sells 14,890 Shares of Generac Holdings Inc. (NYSE:GNRC)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 75.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,862 shares of the technology company’s stock after selling 14,890 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Generac were worth $772,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC lifted its stake in Generac by 73.2% in the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after acquiring an additional 90 shares during the period. Sunbelt Securities Inc. raised its holdings in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after purchasing an additional 220 shares during the period. Blue Trust Inc. boosted its stake in shares of Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after purchasing an additional 97 shares in the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Generac during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank raised their price objective on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Robert W. Baird lowered their target price on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Stephens reiterated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a report on Monday, August 5th. Finally, Roth Mkm boosted their target price on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.05.

Insider Transactions at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. This represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock worth $7,584,853 in the last ninety days. Insiders own 2.90% of the company’s stock.

Generac Stock Down 1.1 %

GNRC stock opened at $179.94 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The stock has a market capitalization of $10.71 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.23 and a beta of 1.37. The business has a fifty day moving average price of $164.81 and a 200-day moving average price of $152.34.

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

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.