Golden State Wealth Management LLC Trims Holdings in Generac Holdings Inc. (NYSE:GNRC)

Golden State Wealth Management LLC lessened its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 37.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 750 shares of the technology company’s stock after selling 450 shares during the period. Golden State Wealth Management LLC’s holdings in Generac were worth $95,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nebula Research & Development LLC purchased a new position in Generac during the 4th quarter valued at about $3,638,000. Pinebridge Investments L.P. increased its holdings in Generac by 28.1% during the 4th quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company’s stock valued at $10,697,000 after purchasing an additional 15,147 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Generac by 19.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company’s stock worth $929,000 after acquiring an additional 1,195 shares during the period. Evercore Wealth Management LLC grew its holdings in shares of Generac by 4.3% during the 4th quarter. Evercore Wealth Management LLC now owns 430,068 shares of the technology company’s stock worth $66,682,000 after acquiring an additional 17,711 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Generac by 15.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company’s stock worth $3,232,000 after acquiring an additional 3,345 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on GNRC shares. Stifel Nicolaus reduced their target price on Generac from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. TD Securities reduced their target price on Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Bank of America started coverage on Generac in a report on Monday, March 24th. They set a “buy” rating and a $182.00 target price on the stock. Piper Sandler reduced their target price on Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Canaccord Genuity Group reduced their target price on Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus price target of $169.17.

Generac Stock Performance

GNRC stock opened at $152.37 on Monday. The stock has a market capitalization 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. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $195.94. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $127.72 and its 200 day simple moving average is $134.38.

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

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the completion of the sale, the chief executive officer directly owned 562,966 shares in the company, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Generac Company 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.