MetLife Investment Management LLC Sells 544 Shares of Generac Holdings Inc. (NYSE:GNRC)

MetLife Investment Management LLC trimmed its stake in Generac Holdings Inc. (NYSE:GNRC) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,927 shares of the technology company’s stock after selling 544 shares during the period. MetLife Investment Management LLC’s holdings in Generac were worth $2,689,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GNRC. William Blair Investment Management LLC bought a new position in shares of Generac in the 2nd quarter worth $98,282,000. The Manufacturers Life Insurance Company grew its stake in Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after buying an additional 299,205 shares during the last quarter. Jennison Associates LLC purchased a new position in Generac during the 3rd quarter worth $45,722,000. International Assets Investment Management LLC grew its stake in Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after buying an additional 266,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in Generac by 678.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after buying an additional 167,641 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Generac Stock Performance

NYSE GNRC opened at $182.59 on Thursday. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 2.30 and a beta of 1.39. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $175.16 and a 200 day moving average of $156.21.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share 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 company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. Generac’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on GNRC. Roth Mkm boosted their target price on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup boosted their target price on Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Barclays began coverage on Generac in a research note on Wednesday. They set an “equal weight” rating and a $189.00 target price on the stock. Finally, Robert W. Baird dropped their price target on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.30.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock valued at $7,584,853 over the last quarter. 2.90% of the stock is currently owned by insiders.

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.