Wealth Effects LLC Sells 250 Shares of Generac Holdings Inc. (NYSE:GNRC)

Wealth Effects LLC decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,069 shares of the technology company’s stock after selling 250 shares during the period. Wealth Effects LLC’s holdings in Generac were worth $1,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors grew its holdings in shares of Generac by 2.1% in the 1st quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after buying an additional 25,646 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Generac in the 2nd quarter valued at $98,282,000. Dimensional Fund Advisors LP grew its holdings in shares of Generac by 5.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after buying an additional 35,026 shares during the period. Ninety One UK Ltd boosted its stake in Generac by 0.7% in the 2nd quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after purchasing an additional 3,849 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of Generac by 29.2% during the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday. Northland Securities increased their price objective on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Truist Financial increased their price objective on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Canaccord Genuity Group upped their target price on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com cut shares of Generac from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Generac has a consensus rating of “Hold” and an average price target of $162.45.

Generac Stock Down 1.1 %

Shares of NYSE:GNRC traded down $1.78 during midday trading on Monday, hitting $165.50. 179,410 shares of the company’s stock were exchanged, compared to its average volume of 957,191. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $176.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The stock has a 50 day moving average price of $153.90 and a 200-day moving average price of $146.13. The company has a market cap of $10.03 billion, a PE ratio of 46.13, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the firm posted $1.08 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 6.47 EPS for the current fiscal year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% 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.