GAMMA Investing LLC Reduces Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

GAMMA Investing LLC lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 35.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,112 shares of the technology company’s stock after selling 621 shares during the quarter. GAMMA Investing LLC’s holdings in Generac were worth $141,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GNRC. Hurley Capital LLC purchased a new position in shares of Generac in the fourth quarter valued at $26,000. Quadrant Capital Group LLC increased its position in Generac by 61.7% during the 4th quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company’s stock worth $35,000 after purchasing an additional 87 shares in the last quarter. Ostrum Asset Management purchased a new stake in Generac during the 4th quarter worth about $50,000. Wintrust Investments LLC increased its position in Generac by 55.1% during the 4th quarter. Wintrust Investments LLC now owns 428 shares of the technology company’s stock worth $66,000 after purchasing an additional 152 shares in the last quarter. Finally, Covestor Ltd increased its position in Generac by 33.9% during the 4th quarter. Covestor Ltd now owns 513 shares of the technology company’s stock worth $80,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the sale, the chief executive officer owned 562,966 shares of the company’s stock, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.

Generac Stock Performance

Shares of GNRC stock opened at $152.37 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.89. The stock has a market cap of $9.00 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.37 and a beta of 1.72. The stock has a 50-day moving average of $127.72 and a 200-day moving average of $134.53. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.27. The company had revenue of $942.12 million during the quarter, compared to analysts’ expectations of $921.78 million. Generac had a net margin of 7.68% and a return on equity of 18.90%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. As a group, sell-side analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GNRC. Wells Fargo & Company decreased their price target on Generac from $165.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Piper Sandler reduced their price objective on Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus reduced their price objective on Generac from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. TD Cowen reduced their price objective on Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup raised Generac from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $162.00 to $138.00 in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.17.

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.