Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists lessened its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,175 shares of the technology company’s stock after selling 300 shares during the period. Peloton Wealth Strategists’ holdings in Generac were worth $1,775,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GNRC. Raymond James Trust N.A. increased its position in shares of Generac by 52.8% in the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock valued at $541,000 after buying an additional 1,177 shares in the last quarter. Willis Investment Counsel raised its position in Generac by 18.7% during the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after acquiring an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Generac by 85.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after purchasing an additional 3,244 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Generac by 5.0% during the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock worth $11,324,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Generac during the 3rd quarter worth about $3,742,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

Shares of GNRC opened at $179.22 on Monday. The company has a market cap of $10.66 billion, a P/E ratio of 37.18, a PEG ratio of 2.18 and a beta of 1.39. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average price is $176.21 and its 200 day moving average price is $156.62.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (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 during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted $1.64 earnings per share. Generac’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts forecast that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their price objective on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their target price on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their price target on shares of Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Truist Financial upped their price objective on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.30.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,268 shares of company stock valued at $7,584,853. 2.90% of the stock is currently owned by corporate insiders.

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.