Sei Investments Co. Sells 2,797 Shares of Generac Holdings Inc. (NYSE:GNRC)

Sei Investments Co. lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,834 shares of the technology company’s stock after selling 2,797 shares during the period. Sei Investments Co.’s holdings in Generac were worth $6,986,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its stake in Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares during the period. Capital World Investors bought a new position in shares of Generac in the 4th quarter valued at $155,707,000. Kampmann Melissa S. bought a new position in shares of Generac in the 4th quarter valued at $750,000. Bank of Nova Scotia increased its stake in shares of Generac by 1,350.9% in the 4th quarter. Bank of Nova Scotia now owns 32,559 shares of the technology company’s stock valued at $4,208,000 after purchasing an additional 30,315 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in shares of Generac in the 1st quarter valued at $1,053,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GNRC. Canaccord Genuity Group lifted their price target on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Janney Montgomery Scott lowered Generac from a “buy” rating to a “neutral” rating and lifted their price target for the company from $126.00 to $154.00 in a research note on Thursday, June 13th. Wells Fargo & Company lifted their price target on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $175.00 price objective on shares of Generac in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group raised their price objective on Generac from $129.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Generac has an average rating of “Hold” and an average target price of $154.71.

Generac Stock Performance

GNRC stock opened at $154.84 on Monday. The stock has a 50-day moving average price of $148.58 and a 200-day moving average price of $140.96. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $169.57. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.39 billion, a PE ratio of 42.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38.

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

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.