Citigroup Inc. trimmed its position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,165 shares of the technology company’s stock after selling 9,479 shares during the period. Citigroup Inc. owned about 0.10% of Generac worth $9,877,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its position in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares during the last quarter. SouthState Corp bought a new stake in Generac in the 3rd quarter worth approximately $32,000. Capital Advisors Ltd. LLC lifted its position in Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after buying an additional 220 shares during the last quarter. Blue Trust Inc. increased its stake in Generac by 73.5% in the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares during the period. Finally, Fairfield Financial Advisors LTD purchased a new position in Generac in the 2nd quarter worth approximately $38,000. Institutional investors own 84.04% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. The Goldman Sachs Group lifted their price target on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen lifted their price target on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup lifted their price target on Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Stifel Nicolaus boosted their target price on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.58.
Generac Price Performance
Shares of GNRC stock opened at $188.20 on Friday. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $172.92 and its 200 day moving average is $155.26. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 2.33 and a beta of 1.37.
Generac (NYSE:GNRC – Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts expect that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’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 transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,268 shares of company stock valued at $7,584,853. 2.90% of the stock is currently owned by corporate insiders.
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.
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