Investment Partners Asset Management Inc. Lowers Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Investment Partners Asset Management Inc. reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 4.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,743 shares of the technology company’s stock after selling 81 shares during the period. Investment Partners Asset Management Inc.’s holdings in Generac were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares in the company, valued at $89,346,790.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by company insiders.

Generac Stock Performance

NYSE GNRC traded up $0.97 during trading hours on Monday, hitting $165.37. The company had a trading volume of 98,743 shares, compared to its average volume of 947,561. The business has a fifty day simple moving average of $155.89 and a 200-day simple moving average of $147.20. The firm has a market cap of $10.02 billion, a P/E ratio of 45.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $176.14.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The firm had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. Generac’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. Equities analysts predict that Generac Holdings Inc. will post 6.49 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen lifted their price target on Generac from $144.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com lowered shares of Generac from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Citigroup raised their price objective on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stephens reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Generac in a research report on Monday, August 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $175.00 target price (up from $145.00) on shares of Generac in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $165.40.

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.