Victory Capital Management Inc. Cuts Stake in Generac Holdings Inc. (NYSE:GNRC)

Victory Capital Management Inc. trimmed its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,202 shares of the technology company’s stock after selling 573 shares during the quarter. Victory Capital Management Inc.’s holdings in Generac were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC lifted its holdings in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after purchasing an additional 220 shares during the period. Blue Trust Inc. boosted its holdings in Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after buying an additional 97 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in Generac during the second quarter worth about $38,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the subject of a number of research reports. Robert W. Baird decreased their price target on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company boosted their price objective on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. TD Cowen raised their target price on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Citigroup upped their price target on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.58.

Generac Price Performance

GNRC stock opened at $191.58 on Tuesday. The stock has a 50-day moving average price of $168.12 and a two-hundred day moving average price of $153.67. The company has a market cap of $11.40 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37. 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.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. As a group, research analysts predict that Generac Holdings Inc. will post 6.8 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,268 shares of company stock worth $7,584,853 in the last quarter. 2.90% of the stock is owned by corporate 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.