Everence Capital Management Inc. Sells 3,790 Shares of Generac Holdings Inc. (NYSE:GNRC)

Everence Capital Management Inc. cut its holdings in Generac Holdings Inc. (NYSE:GNRC) by 70.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,590 shares of the technology company’s stock after selling 3,790 shares during the period. Everence Capital Management Inc.’s holdings in Generac were worth $247,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Sunbelt Securities Inc. raised its position in shares of Generac by 97.1% during the second 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. Modus Advisors LLC bought a new position in Generac during the fourth quarter valued at about $27,000. Versant Capital Management Inc raised its holdings in Generac by 391.9% in the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after acquiring an additional 145 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Generac in the 3rd quarter worth approximately $31,000. Finally, SouthState Corp acquired a new stake in shares of Generac during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the sale, the executive vice president now owns 10,738 shares in the company, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the transaction, the chief executive officer now directly owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,268 shares of company stock worth $7,577,703. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on GNRC shares. Stifel Nicolaus upped their target price on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays began coverage on shares of Generac in a report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 target price on the stock. Roth Mkm boosted their target price on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Citigroup decreased their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Robert W. Baird decreased their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.80.

Generac Price Performance

GNRC opened at $158.76 on Thursday. The stock has a market cap of $9.45 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.04 and a beta of 1.42. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $173.61 and a 200 day simple moving average of $159.57.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts expect that Generac Holdings Inc. will post 6.84 EPS for the current year.

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.