Essex Investment Management Co. LLC Trims Position in Generac Holdings Inc. (NYSE:GNRC)

Essex Investment Management Co. LLC decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,709 shares of the technology company’s stock after selling 231 shares during the period. Generac accounts for approximately 1.0% of Essex Investment Management Co. LLC’s portfolio, making the stock its 22nd largest holding. Essex Investment Management Co. LLC’s holdings in Generac were worth $5,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. AlphaQuest LLC lifted its stake in shares of Generac by 26.7% during the fourth quarter. AlphaQuest LLC now owns 8,306 shares of the technology company’s stock valued at $1,288,000 after buying an additional 1,749 shares during the period. Personal CFO Solutions LLC lifted its stake in shares of Generac by 5.1% during the fourth quarter. Personal CFO Solutions LLC now owns 2,097 shares of the technology company’s stock valued at $325,000 after buying an additional 102 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Generac by 2.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,242 shares of the technology company’s stock valued at $2,208,000 after buying an additional 357 shares during the period. Machina Capital S.A.S. lifted its stake in shares of Generac by 8.9% during the fourth quarter. Machina Capital S.A.S. now owns 1,683 shares of the technology company’s stock valued at $261,000 after buying an additional 138 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its stake in shares of Generac by 11.1% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 1,630 shares of the technology company’s stock valued at $253,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at approximately $82,129,498.75. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by company insiders.

Generac Price Performance

Shares of GNRC stock opened at $136.85 on Friday. The firm has a market cap of $8.16 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.44 and a beta of 1.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. Generac Holdings Inc. has a 1-year low of $110.35 and a 1-year high of $195.94. The firm has a fifty day moving average of $148.62 and a two-hundred day moving average of $159.64.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, research analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GNRC. Citigroup cut their price target on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus cut their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Piper Sandler cut their price target on shares of Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird cut their target price on shares of Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial cut their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.00.

Generac Company 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.