Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,709 shares of the technology company’s stock after selling 231 shares during the period. Generac makes up approximately 1.0% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 22nd largest position. Essex Investment Management Co. LLC owned about 0.06% of Generac worth $5,382,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GNRC. AlphaQuest LLC increased its holdings in shares of Generac by 26.7% during the 4th quarter. AlphaQuest LLC now owns 8,306 shares of the technology company’s stock worth $1,288,000 after buying an additional 1,749 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in shares of Generac by 5.1% during the 4th quarter. Personal CFO Solutions LLC now owns 2,097 shares of the technology company’s stock worth $325,000 after buying an additional 102 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Generac by 2.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,242 shares of the technology company’s stock worth $2,208,000 after buying an additional 357 shares during the last quarter. Machina Capital S.A.S. increased its holdings in shares of Generac by 8.9% during the 4th quarter. Machina Capital S.A.S. now owns 1,683 shares of the technology company’s stock worth $261,000 after buying an additional 138 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its holdings in shares of Generac by 11.1% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 1,630 shares of the technology company’s stock worth $253,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GNRC. Wells Fargo & Company cut their price target on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. UBS Group lifted their target price on shares of Generac from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Truist Financial dropped their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Citigroup dropped their target price on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird dropped their target price on shares of Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the sale, the chief executive officer now directly owns 565,825 shares in the company, valued at $82,129,498.75. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.

Generac Stock Performance

Shares of GNRC stock opened at $136.85 on Friday. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $148.62 and a 200 day moving average price of $159.64. Generac Holdings Inc. has a 12 month low of $110.35 and a 12 month high of $195.94. The company has a market cap of $8.16 billion, a P/E ratio of 25.34, a PEG ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Sell-side analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

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.