Hodges Capital Management Inc. Sells 2,641 Shares of Generac Holdings Inc. (NYSE:GNRC)

Hodges Capital Management Inc. reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 163,637 shares of the technology company’s stock after selling 2,641 shares during the period. Generac comprises about 1.5% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position. Hodges Capital Management Inc.’s holdings in Generac were worth $25,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Generac by 133.6% in the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after acquiring an additional 384,434 shares during the last quarter. Willis Investment Counsel increased its holdings in Generac by 2.8% during the 4th quarter. Willis Investment Counsel now owns 107,960 shares of the technology company’s stock valued at $16,739,000 after purchasing an additional 2,953 shares in the last quarter. Spire Wealth Management raised its position in Generac by 203.6% in the 4th quarter. Spire Wealth Management now owns 252 shares of the technology company’s stock valued at $39,000 after purchasing an additional 169 shares during the last quarter. Independence Bank of Kentucky boosted its stake in Generac by 10.2% in the fourth quarter. Independence Bank of Kentucky now owns 6,895 shares of the technology company’s stock worth $1,069,000 after purchasing an additional 640 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of Generac during the fourth quarter worth $272,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GNRC. Stifel Nicolaus upped their price target on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. TD Cowen raised their price target on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup decreased their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays initiated coverage on Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.30.

Generac Trading Down 2.0 %

NYSE GNRC opened at $149.27 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The stock’s 50-day moving average is $164.75 and its 200-day moving average is $161.42. Generac Holdings Inc. has a one year low of $108.89 and a one year high of $195.94. The firm has a market cap of $8.88 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.51 and a beta of 1.42.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Generac Holdings Inc. will post 6.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total transaction of $787,500.00. Following the completion of the transaction, the chief executive officer now directly owns 570,825 shares of the company’s stock, valued at $89,904,937.50. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,268 shares of company stock valued at $6,744,703. Company insiders own 2.90% of the company’s stock.

Generac 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.