Citigroup Inc. Has $6.59 Million Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Citigroup Inc. grew its stake in Generac Holdings Inc. (NYSE:GNRC) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,973 shares of the technology company’s stock after purchasing an additional 6,305 shares during the quarter. Citigroup Inc. owned about 0.10% of Generac worth $6,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aviance Capital Partners LLC increased its holdings in Generac by 1.7% in the first quarter. Aviance Capital Partners LLC now owns 5,725 shares of the technology company’s stock valued at $618,000 after purchasing an additional 95 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Generac in the 1st quarter valued at about $169,000. Guggenheim Capital LLC raised its position in shares of Generac by 2.5% in the 1st quarter. Guggenheim Capital LLC now owns 8,981 shares of the technology company’s stock valued at $970,000 after acquiring an additional 220 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Generac by 1.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 11,498 shares of the technology company’s stock worth $1,242,000 after acquiring an additional 184 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new position in Generac during the first quarter valued at approximately $733,000. 87.59% of the stock is currently owned by institutional investors.

Generac Price Performance

NYSE:GNRC opened at $118.81 on Friday. The stock has a market capitalization of $7.39 billion, a PE ratio of 49.30, a P/E/G ratio of 2.20 and a beta of 1.24. Generac Holdings Inc. has a 1-year low of $86.29 and a 1-year high of $244.14. The firm has a fifty day simple moving average of $131.08 and a 200 day simple moving average of $119.66. The company has a current ratio of 2.43, a quick ratio of 0.89 and a debt-to-equity ratio of 0.63.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.08). Generac had a net margin of 4.64% and a return on equity of 14.23%. The firm had revenue of $1,000.00 million during the quarter, compared to the consensus estimate of $979.51 million. During the same period last year, the business earned $2.99 EPS. The business’s revenue was down 22.5% on a year-over-year basis. On average, research analysts expect that Generac Holdings Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $149.15, for a total transaction of $745,750.00. Following the completion of the sale, the chief executive officer now owns 612,690 shares of the company’s stock, valued at approximately $91,382,713.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $149.15, for a total transaction of $745,750.00. Following the completion of the sale, the chief executive officer now directly owns 612,690 shares in the company, valued at $91,382,713.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 250 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $149.15, for a total value of $37,287.50. Following the completion of the transaction, the executive vice president now directly owns 16,618 shares in the company, valued at approximately $2,478,574.70. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the topic of several analyst reports. Janney Montgomery Scott upgraded shares of Generac from a “neutral” rating to a “buy” rating in a report on Friday, August 4th. Piper Sandler reduced their target price on Generac from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, August 15th. Citigroup increased their price target on Generac from $127.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, July 19th. The Goldman Sachs Group cut their price objective on Generac from $154.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Finally, Canaccord Genuity Group lowered their target price on Generac from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $143.04.

Generac Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.