MML Investors Services LLC Sells 7,794 Shares of Generac Holdings Inc. (NYSE:GNRC)

MML Investors Services LLC lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 60.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,070 shares of the technology company’s stock after selling 7,794 shares during the quarter. MML Investors Services LLC’s holdings in Generac were worth $806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC bought a new stake in shares of Generac in the 2nd quarter valued at about $98,282,000. The Manufacturers Life Insurance Company boosted its stake in Generac by 114.8% in 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 acquiring an additional 299,205 shares in the last quarter. Jennison Associates LLC acquired a new stake in Generac in the third quarter valued at approximately $45,722,000. International Assets Investment Management LLC grew its holdings in Generac by 25,311.7% in the third quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after purchasing an additional 266,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of Generac by 678.5% during the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after purchasing an additional 167,641 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GNRC shares. The Goldman Sachs Group raised their price objective on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler raised their price target on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Truist Financial lifted their target price on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average price target of $175.30.

Generac Stock Up 0.1 %

GNRC stock opened at $156.26 on Friday. Generac Holdings Inc. has a one year low of $108.89 and a one year high of $195.94. 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 firm has a market cap of $9.30 billion, a PE ratio of 32.42, a P/E/G ratio of 2.09 and a beta of 1.39. The firm’s fifty day moving average is $176.38 and its 200 day moving average is $157.80.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 earnings per share. On average, research analysts forecast that Generac Holdings Inc. will post 6.84 EPS for the current year.

Insider Buying and Selling

In related news, CFO York A. Ragen sold 29,081 shares of the business’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 sale, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction 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 owns 10,738 shares in the company, 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 a total of 42,268 shares of company stock worth $7,584,853 in the last 90 days. Insiders own 2.90% of the company’s stock.

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.