Evergreen Capital Management LLC Sells 8,491 Shares of Generac Holdings Inc. (NYSE:GNRC)

Evergreen Capital Management LLC lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 29.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,718 shares of the technology company’s stock after selling 8,491 shares during the quarter. Evergreen Capital Management LLC’s holdings in Generac were worth $2,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GNRC. Norges Bank purchased a new position in shares of Generac in the 4th quarter worth approximately $67,253,000. Corient Private Wealth LLC grew its stake in Generac by 2.0% in the 4th quarter. Corient Private Wealth LLC now owns 29,002 shares of the technology company’s stock valued at $3,748,000 after purchasing an additional 558 shares during the period. Quest Partners LLC purchased a new stake in shares of Generac during the 4th quarter valued at $185,000. Intech Investment Management LLC bought a new stake in shares of Generac during the 4th quarter worth $457,000. Finally, Hilltop Holdings Inc. boosted its holdings in shares of Generac by 55.3% in the 4th quarter. Hilltop Holdings Inc. now owns 3,068 shares of the technology company’s stock worth $397,000 after buying an additional 1,093 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GNRC. Canaccord Genuity Group raised their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Scotiabank raised their price target on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Northland Securities upped their price objective on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm raised their target price on Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company boosted their target price on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $154.71.

Generac Trading Up 3.1 %

Generac stock opened at $146.14 on Tuesday. The stock has a market cap of $8.86 billion, a P/E ratio of 40.26, a PEG ratio of 1.83 and a beta of 1.38. Generac Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $169.57. The firm’s fifty day moving average price is $149.09 and its 200-day moving average price is $140.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. Equities research analysts forecast that Generac Holdings Inc. will post 6.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $133.39, for a total value of $666,950.00. Following the transaction, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by company insiders.

Generac Company 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.