Impax Asset Management Group plc Cuts Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Impax Asset Management Group plc cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 936,142 shares of the technology company’s stock after selling 29,646 shares during the quarter. Impax Asset Management Group plc’s holdings in Generac were worth $147,858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Duncker Streett & Co. Inc. grew its position in Generac by 2.4% during the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock valued at $388,000 after acquiring an additional 68 shares during the period. Empirical Finance LLC raised its stake in shares of Generac by 4.5% in the 1st quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock valued at $220,000 after purchasing an additional 75 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Generac by 0.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock worth $2,981,000 after buying an additional 75 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Generac by 6.5% in the 3rd quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock worth $243,000 after buying an additional 93 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Up 1.1 %

Generac stock opened at $170.74 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 1-year low of $100.23 and a 1-year high of $176.14. The firm’s fifty day simple moving average is $157.43 and its 200-day simple moving average is $148.70. The company has a market capitalization of $10.27 billion, a P/E ratio of 35.42, a P/E/G ratio of 2.11 and a beta of 1.37.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 earnings per share. Sell-side analysts forecast that Generac Holdings Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GNRC shares. JPMorgan Chase & Co. boosted their price objective on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Northland Securities increased their price objective on shares of Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Stephens reaffirmed an “overweight” rating and set a $200.00 target price on shares of Generac in a report on Monday, August 5th. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Canaccord Genuity Group upped their price objective on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $169.10.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 562,177 shares in the company, valued at $89,346,790.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% 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.