Glenmede Trust Co. NA Grows Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Glenmede Trust Co. NA raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 54.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,984 shares of the technology company’s stock after purchasing an additional 4,209 shares during the period. Glenmede Trust Co. NA’s holdings in Generac were worth $1,904,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new stake in Generac during the second quarter valued at about $98,282,000. Dimensional Fund Advisors LP raised its position in Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after purchasing an additional 35,026 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Generac by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after purchasing an additional 299,205 shares in the last quarter. Ninety One UK Ltd raised its position in Generac by 0.7% during the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after purchasing an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL raised its position in Generac by 29.2% during the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock valued at $60,487,000 after purchasing an additional 103,439 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Transactions at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s 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 transaction, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now owns 557,177 shares of the company’s stock, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler lifted their price objective on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup lifted their price objective on Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen lifted their price objective on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.58.

Generac Stock Performance

Generac stock opened at $188.20 on Monday. The stock’s 50 day simple moving average is $172.92 and its two-hundred day simple moving average is $155.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 2.31 and a beta of 1.37. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts expect 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.