Envestnet Asset Management Inc. decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.9% during the first quarter, Holdings Channel.com reports. The firm owned 234,532 shares of the technology company’s stock after selling 14,759 shares during the period. Envestnet Asset Management Inc.’s holdings in Generac were worth $76,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in Generac by 0.4% in the 4th quarter. Amalgamated Bank now owns 12,489 shares of the technology company’s stock worth $2,840,000 after purchasing an additional 48 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Generac by 5.3% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,006 shares of the technology company’s stock worth $329,000 after buying an additional 51 shares during the period. Verition Fund Management LLC lifted its position in shares of Generac by 4.3% during the 4th quarter. Verition Fund Management LLC now owns 1,465 shares of the technology company’s stock valued at $333,000 after buying an additional 60 shares in the last quarter. FDx Advisors Inc. grew its stake in Generac by 6.7% in the 1st quarter. FDx Advisors Inc. now owns 1,038 shares of the technology company’s stock valued at $340,000 after acquiring an additional 65 shares during the period. Finally, Signaturefd LLC increased its holdings in Generac by 86.4% in the 1st quarter. Signaturefd LLC now owns 151 shares of the technology company’s stock worth $49,000 after acquiring an additional 70 shares in the last quarter. 90.44% of the stock is owned by hedge funds and other institutional investors.
NYSE:GNRC opened at $300.89 on Monday. Generac Holdings Inc. has a 52 week low of $99.48 and a 52 week high of $364.00. The stock’s fifty day moving average is $322.27 and its two-hundred day moving average is $275.17. The company has a market capitalization of $18.94 billion, a P/E ratio of 64.85, a P/E/G ratio of 5.28 and a beta of 0.91. The company has a quick ratio of 1.70, a current ratio of 2.66 and a debt-to-equity ratio of 0.68.
Several analysts have recently issued reports on the stock. Oppenheimer lifted their target price on shares of Generac from $235.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, February 12th. UBS Group lifted their price objective on Generac from $251.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, February 12th. Stifel Nicolaus boosted their price objective on Generac from $213.00 to $340.00 and gave the stock a “hold” rating in a research note on Tuesday, February 16th. Canaccord Genuity raised their target price on Generac from $383.00 to $406.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. Finally, Piper Sandler initiated coverage on Generac in a research report on Monday, May 3rd. They set an “overweight” rating and a $400.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Generac currently has a consensus rating of “Buy” and a consensus target price of $332.69.
In related news, CMO Russell S. Minick sold 6,382 shares of the firm’s stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $352.34, for a total transaction of $2,248,633.88. Following the completion of the transaction, the chief marketing officer now directly owns 7,768 shares in the company, valued at approximately $2,736,977.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $329.85, for a total value of $1,649,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,480 shares of company stock worth $14,942,365. Company insiders own 2.90% of the company’s stock.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel; and batteries and inverters.
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