Wellington Management Group LLP trimmed its holdings in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 78.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,924 shares of the technology company’s stock after selling 240,592 shares during the quarter. Wellington Management Group LLP owned about 0.11% of Generac worth $10,633,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of GNRC. Wealth Enhancement Advisory Services LLC raised its position in shares of Generac by 13.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,661 shares of the technology company’s stock valued at $748,000 after buying an additional 693 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Generac by 1.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,752 shares of the technology company’s stock valued at $2,612,000 after purchasing an additional 275 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Generac by 11.3% during the 2nd quarter. Raymond James & Associates now owns 178,092 shares of the technology company’s stock worth $23,547,000 after buying an additional 18,097 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Generac by 5.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 99,149 shares of the technology company’s stock worth $13,109,000 after buying an additional 5,043 shares during the last quarter. Finally, Carnegie Investment Counsel boosted its stake in Generac by 24.5% in the second quarter. Carnegie Investment Counsel now owns 17,403 shares of the technology company’s stock valued at $2,301,000 after buying an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.
Insider Buying and Selling
In related news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 135,613 shares of the company’s stock, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is owned by company insiders.
Generac Stock Down 3.7 %
Generac (NYSE:GNRC – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $1.64 earnings per share. On average, research analysts expect that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently issued reports on GNRC shares. The Goldman Sachs Group upped their price objective on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays initiated coverage on Generac in a report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 target price for the company. Roth Mkm lifted their price target on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen upped their price objective on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.30.
Get Our Latest Stock Report on Generac
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.
Recommended Stories
- Five stocks we like better than Generac
- What Are Dividend Challengers?
- Dave & Buster’s: Is It Time to Make Another Play on This Stock?
- Ride Out The Recession With These Dividend Kings
- Why Hershey Stock Has More Room to Run Despite Takeover Rejection
- 5 discounted opportunities for dividend growth investors
- Texas Instruments: The Old-School Tech Titan Still Delivering
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.