Everence Capital Management Inc. Has $247,000 Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Everence Capital Management Inc. cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 70.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,590 shares of the technology company’s stock after selling 3,790 shares during the quarter. Everence Capital Management Inc.’s holdings in Generac were worth $247,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Trust N.A. boosted its holdings in shares of Generac by 52.8% in the 3rd quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock valued at $541,000 after buying an additional 1,177 shares during the last quarter. Willis Investment Counsel grew its position in shares of Generac by 18.7% in the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after acquiring an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after purchasing an additional 3,244 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Generac by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after purchasing an additional 3,426 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Generac by 54.1% during the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 4,209 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Down 1.4 %

Shares of GNRC stock opened at $158.76 on Thursday. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The stock’s fifty day moving average price is $173.61 and its two-hundred day moving average price is $159.57. 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 company has a market cap of $9.45 billion, a PE ratio of 32.94, a P/E/G ratio of 2.04 and a beta of 1.42.

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

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total transaction of $787,500.00. Following the sale, the chief executive officer now directly owns 570,825 shares in the company, valued at $89,904,937.50. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’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 transaction of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock worth $7,577,703 in the last three months. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays assumed coverage on Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price objective on the stock. Citigroup reduced their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday. Piper Sandler raised their target price on shares of Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. TD Cowen lifted their target price on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Robert W. Baird cut their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.80.

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.