Algert Global LLC Sells 1,570 Shares of Generac Holdings Inc. (NYSE:GNRC)

Algert Global LLC reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,079 shares of the technology company’s stock after selling 1,570 shares during the quarter. Algert Global LLC’s holdings in Generac were worth $3,985,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GNRC. SouthState Corp acquired a new stake in shares of Generac in the third quarter valued at about $32,000. Sunbelt Securities Inc. grew its holdings in 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 buying an additional 100 shares during the last quarter. EntryPoint Capital LLC increased its position in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after buying an additional 90 shares during the period. Blue Trust Inc. lifted its holdings in shares of 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 during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position 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 acquiring an additional 220 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

Shares of GNRC stock opened at $191.58 on Tuesday. The firm has a market cap of $11.40 billion, a PE ratio of 39.75, a P/E/G ratio of 2.32 and a beta of 1.37. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company’s fifty day simple moving average is $168.12 and its 200-day simple moving average is $153.67. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

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

Insider Activity at Generac

In other Generac news, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,268 shares of company stock worth $7,584,853. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

GNRC has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Northland Securities lifted their price objective on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Roth Mkm lifted their target price on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Scotiabank lifted their price target on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.58.

Generac 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.