Generac Holdings Inc. (NYSE:GNRC) Stock Position Cut by First Eagle Investment Management LLC

First Eagle Investment Management LLC trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 33.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,979 shares of the technology company’s stock after selling 20,700 shares during the period. First Eagle Investment Management LLC owned approximately 0.07% of Generac worth $5,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Generac by 23.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 610,100 shares of the technology company’s stock valued at $78,854,000 after buying an additional 115,728 shares in the last quarter. Norges Bank bought a new position in shares of Generac during the 4th quarter valued at about $67,253,000. Gladstone Institutional Advisory LLC grew its stake in shares of Generac by 28.1% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,783 shares of the technology company’s stock worth $360,000 after purchasing an additional 611 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Generac by 2.0% during the fourth 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 last quarter. Finally, Trexquant Investment LP boosted its holdings in Generac by 204.5% during the fourth quarter. Trexquant Investment LP now owns 21,761 shares of the technology company’s stock worth $2,812,000 after buying an additional 14,615 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Generac Stock Down 0.8 %

GNRC 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 firm has a market cap of $8.59 billion, a PE ratio of 39.05, a PEG ratio of 1.83 and a beta of 1.38. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $169.57. The company has a fifty day simple moving average of $149.26 and a 200 day simple moving average of $139.51.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The firm’s revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that Generac Holdings Inc. will post 6.52 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GNRC. Stephens reiterated an “overweight” rating and set a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. Guggenheim lowered Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target for the company. in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group lifted their target price on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, TD Cowen upped their price target 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Generac presently has an average 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.