Avalon Global Asset Management LLC Sells 9,800 Shares of Generac Holdings Inc. (NYSE:GNRC)

Avalon Global Asset Management LLC cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 28.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,200 shares of the technology company’s stock after selling 9,800 shares during the quarter. Generac accounts for about 0.8% of Avalon Global Asset Management LLC’s portfolio, making the stock its 28th largest position. Avalon Global Asset Management LLC’s holdings in Generac were worth $3,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alaethes Wealth LLC grew its holdings in shares of Generac by 2.2% during the 2nd quarter. Alaethes Wealth LLC now owns 11,968 shares of the technology company’s stock valued at $1,582,000 after purchasing an additional 256 shares during the last quarter. Bridges Investment Management Inc. grew its holdings in shares of Generac by 75.7% during the 2nd quarter. Bridges Investment Management Inc. now owns 157,204 shares of the technology company’s stock valued at $20,786,000 after purchasing an additional 67,728 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Generac by 41.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,475 shares of the technology company’s stock worth $988,000 after buying an additional 2,175 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Generac by 4.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,019 shares of the technology company’s stock worth $1,060,000 after buying an additional 341 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its position in Generac by 1.7% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 422,628 shares of the technology company’s stock worth $55,880,000 after buying an additional 7,045 shares during the period. 84.04% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred 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 directly owns 577,177 shares in the company, valued at $76,989,640.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

Generac Trading Down 0.8 %

Shares of Generac stock opened at $141.76 on Friday. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $149.26 and its 200-day moving average price is $139.51. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 1.83 and a beta of 1.38. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $169.57.

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

Analyst Upgrades and Downgrades

GNRC has been the topic of several recent research reports. Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $126.00 to $154.00 in a research report on Thursday, June 13th. Guggenheim downgraded shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price on the stock. in a research report on Thursday, May 30th. Scotiabank boosted their target price on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. TD Cowen boosted their target price on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Generac from $129.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $154.71.

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.