HighTower Advisors LLC Lowers Stake in Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on May 25th, 2023

HighTower Advisors LLC cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 42.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,623 shares of the technology company’s stock after selling 12,883 shares during the quarter. HighTower Advisors LLC’s holdings in Generac were worth $1,752,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GNRC. MinichMacGregor Wealth Management LLC acquired a new stake in Generac during the 4th quarter worth approximately $27,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Generac in the 3rd quarter valued at $29,000. Exos TFP Holdings LLC acquired a new stake in shares of Generac in the 3rd quarter valued at $30,000. Glassman Wealth Services raised its holdings in shares of Generac by 568.2% in the 4th quarter. Glassman Wealth Services now owns 294 shares of the technology company’s stock valued at $30,000 after purchasing an additional 250 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its holdings in shares of Generac by 98.0% in the 4th quarter. IAG Wealth Partners LLC now owns 404 shares of the technology company’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Down 1.2 %

GNRC stock opened at $116.11 on Thursday. The company has a market cap of $7.22 billion, a P/E ratio of 29.62, a P/E/G ratio of 1.98 and a beta of 1.16. Generac Holdings Inc. has a 52 week low of $86.29 and a 52 week high of $299.85. The company’s 50-day moving average price is $108.09 and its 200 day moving average price is $108.78. The company has a current ratio of 2.40, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65.

Generac (NYSE:GNRC – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. The firm had revenue of $887.90 million for the quarter, compared to the consensus estimate of $850.07 million. Generac had a net margin of 6.91% and a return on equity of 19.63%. The firm’s revenue was down 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. On average, research analysts expect that Generac Holdings Inc. will post 5.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GNRC. UBS Group reduced their price objective on shares of Generac from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, February 16th. StockNews.com upgraded shares of Generac from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Robert W. Baird lifted their price target on shares of Generac from $119.00 to $136.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Truist Financial cut their price target on shares of Generac from $145.00 to $120.00 in a research note on Monday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of Generac from $130.00 to $135.00 in a research note on Wednesday, May 17th. Four investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $180.39.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 45,207 shares of Generac stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $119.37, for a total transaction of $5,396,359.59. Following the completion of the transaction, the chief executive officer now owns 615,269 shares in the company, valued at $73,444,660.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 55,207 shares of company stock valued at $6,454,560. Corporate insiders own 2.80% of the company’s stock.

About Generac

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Generac Holdings, Inc engages in the business of designing and manufacturing energy technology solutions. It operates under the Domestic and International segments. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the United States and Canada. The International segment focuses on Generac business’ Latin American export operations.