Morse Asset Management Inc Sells 2,314 Shares of Generac Holdings Inc. (NYSE:GNRC)

Morse Asset Management Inc trimmed its holdings in Generac Holdings Inc. (NYSE:GNRC) by 28.0% in the 1st quarter, Holdings Channel reports. The fund owned 5,939 shares of the technology company’s stock after selling 2,314 shares during the quarter. Morse Asset Management Inc’s holdings in Generac were worth $749,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new position in shares of Generac in the 4th quarter worth about $27,000. EntryPoint Capital LLC increased its stake in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after acquiring an additional 90 shares in the last quarter. ORG Partners LLC bought a new position in shares of Generac in the 4th quarter worth about $38,000. Quarry LP increased its stake in shares of Generac by 219.6% in the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after acquiring an additional 202 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Generac by 89.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock worth $40,000 after acquiring an additional 147 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the sale, the insider now owns 19,815 shares in the company, valued at $2,889,027. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the completion of the transaction, the chief executive officer now directly owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Patrick John Forsythe sold 65,855 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the transaction, the insider now directly owns 19,815 shares of the company’s stock, valued at $2,889,027. The disclosure for this sale can be found here. Insiders have sold a total of 80,785 shares of company stock worth $11,720,411 over the last quarter. Insiders own 2.80% of the company’s stock.

Generac Stock Performance

NYSE GNRC traded up $6.65 on Friday, reaching $159.43. 798,316 shares of the stock were exchanged, compared to its average volume of 883,556. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $161.80. The firm has a market capitalization of $9.66 billion, a PE ratio of 43.92, a PEG ratio of 2.16 and a beta of 1.37. The company’s 50-day simple moving average is $144.81 and its two-hundred day simple moving average is $131.30. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The company had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. During the same quarter last year, the business earned $0.63 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts expect that Generac Holdings Inc. will post 6.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GNRC has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Generac from $150.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Guggenheim downgraded shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target on the stock. in a report on Thursday, May 30th. Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and raised their price target for the company from $126.00 to $154.00 in a report on Thursday, June 13th. StockNews.com cut shares of Generac from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, OTR Global upgraded shares of Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $142.11.

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.