Envestnet Asset Management Inc. Sells 2,415 Shares of Generac Holdings Inc. (NYSE:GNRC)

Envestnet Asset Management Inc. reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,240 shares of the technology company’s stock after selling 2,415 shares during the quarter. Envestnet Asset Management Inc. owned about 0.14% of Generac worth $11,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GNRC. William Blair Investment Management LLC acquired a new stake in shares of Generac in the 2nd quarter worth $98,282,000. Condor Capital Management acquired a new position in shares of Generac in the 2nd quarter valued at about $1,408,000. HBK Sorce Advisory LLC lifted its holdings in shares of Generac by 31.0% in the 2nd quarter. HBK Sorce Advisory LLC now owns 2,705 shares of the technology company’s stock valued at $358,000 after buying an additional 640 shares during the period. Federated Hermes Inc. increased its stake in shares of Generac by 7.6% in the 2nd quarter. Federated Hermes Inc. now owns 9,811 shares of the technology company’s stock valued at $1,297,000 after purchasing an additional 691 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Generac by 384.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,623 shares of the technology company’s stock valued at $215,000 after purchasing an additional 1,288 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the completion of the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.80% of the company’s stock.

Generac Stock Up 3.1 %

Shares of GNRC opened at $152.22 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.23 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38. The company’s fifty day moving average is $148.61 and its two-hundred day moving average is $140.52. Generac Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $169.57.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The firm had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. Analysts forecast that Generac Holdings Inc. will post 6.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Cowen upped their price target on Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Scotiabank increased their target price on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Piper Sandler reaffirmed an “overweight” rating and set a $175.00 price objective on shares of Generac in a report on Tuesday. Robert W. Baird increased their target price on shares of Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and raised their price objective for the company from $126.00 to $154.00 in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $154.71.

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.