Somerset Trust Co Sells 86 Shares of Generac Holdings Inc. (NYSE:GNRC)

Somerset Trust Co cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,630 shares of the technology company’s stock after selling 86 shares during the quarter. Somerset Trust Co’s holdings in Generac were worth $253,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP grew 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 valued at $92,941,000 after acquiring an additional 35,026 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Generac by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after purchasing an additional 299,205 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Generac by 21.4% in the second quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock worth $55,548,000 after purchasing an additional 74,115 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Generac by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 385,584 shares of the technology company’s stock worth $61,262,000 after purchasing an additional 20,576 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Generac during the 3rd quarter valued at $45,722,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

GNRC stock opened at $161.12 on Friday. 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 12 month low of $108.89 and a 12 month high of $195.94. The stock has a market cap of $9.59 billion, a PE ratio of 33.43, a P/E/G ratio of 1.59 and a beta of 1.42. The company has a 50-day moving average price of $170.92 and a 200 day moving average price of $160.60.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GNRC. TD Cowen upped their target price on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup dropped their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays started coverage on Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price target for the company. Finally, Robert W. Baird reduced their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One 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, the company currently has an average rating of “Moderate Buy” and an average price target of $174.30.

Insider Activity at Generac

In related news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares in the company, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,577,703 in the last 90 days. 2.90% of the stock is owned by corporate insiders.

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.