Corebridge Financial Inc. Decreases Stake in Generac Holdings Inc. (NYSE:GNRC)

Corebridge Financial Inc. reduced its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,029 shares of the technology company’s stock after selling 475 shares during the quarter. Corebridge Financial Inc.’s holdings in Generac were worth $2,330,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in Generac by 3.0% in the fourth quarter. Allworth Financial LP now owns 2,738 shares of the technology company’s stock worth $435,000 after buying an additional 80 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Generac by 42.0% in the 4th quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company’s stock worth $44,000 after acquiring an additional 84 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Generac by 6.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 1,518 shares of the technology company’s stock valued at $235,000 after acquiring an additional 90 shares during the period. Personal CFO Solutions LLC lifted its holdings in Generac by 5.1% during the fourth quarter. Personal CFO Solutions LLC now owns 2,097 shares of the technology company’s stock valued at $325,000 after purchasing an additional 102 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Generac by 0.8% during the third quarter. Retirement Systems of Alabama now owns 13,476 shares of the technology company’s stock worth $2,141,000 after purchasing an additional 105 shares during the period. Institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

GNRC has been the subject of several analyst reports. The Goldman Sachs Group cut their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Piper Sandler reduced their price target on Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Citigroup dropped their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird reduced their target price on Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Guggenheim raised shares of Generac from a “sell” rating to a “neutral” rating in a report on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.38.

Generac Stock Down 0.3 %

Shares of NYSE GNRC opened at $126.30 on Wednesday. The stock has a market capitalization of $7.53 billion, a P/E ratio of 23.39, a PEG ratio of 1.44 and a beta of 1.50. Generac Holdings Inc. has a one year low of $122.86 and a one year high of $195.94. The firm’s 50 day simple moving average is $139.23 and its two-hundred day simple moving average is $157.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the sale, the chief executive officer now directly owns 565,825 shares in the company, valued at $82,129,498.75. This represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.

About Generac

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.