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Sumitomo Mitsui Trust Group Inc. decreased its stake in Generac Holdings Inc. (NYSE:GNRC – Free Report) by 11.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,509 shares of the technology company’s stock after selling 325 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Generac were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Generac by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company’s stock valued at $1,053,650,000 after purchasing an additional 47,450 shares during the period. Boston Partners grew its holdings in shares of Generac by 39.0% in the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock valued at $295,123,000 after buying an additional 533,612 shares during the period. Geode Capital Management LLC increased its position in shares of Generac by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,441,772 shares of the technology company’s stock valued at $223,293,000 after buying an additional 14,844 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after acquiring an additional 469,575 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Generac by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company’s stock valued at $112,961,000 after acquiring an additional 16,954 shares during the period. Institutional investors own 84.04% of the company’s stock.
Insider Transactions at Generac
In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the completion of the transaction, the chief executive officer directly owned 562,966 shares in the company, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.
Generac Price Performance
Shares of GNRC opened at $152.37 on Friday. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $127.72 and its 200 day simple moving average is $134.53. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $195.94. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.37 and a beta of 1.72.
Generac (NYSE:GNRC – Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a net margin of 7.68% and a return on equity of 18.90%. The company had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. During the same period in the previous year, the business earned $0.88 EPS. Generac’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GNRC. Guggenheim upgraded Generac from a “sell” rating to a “neutral” rating in a report on Monday, March 17th. Stifel Nicolaus reduced their price target on shares of Generac from $200.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Piper Sandler dropped their price objective on shares of Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Robert W. Baird cut their price objective on shares of Generac from $171.00 to $127.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Stephens reiterated an “overweight” rating and set a $175.00 target price on shares of Generac in a report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.17.
Check Out Our Latest Stock Report on Generac
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.
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