Federated Hermes Inc. Has $77.77 Million Stock Holdings in Generac Holdings Inc. $GNRC

Federated Hermes Inc. lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 38.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 464,588 shares of the technology company’s stock after selling 284,759 shares during the quarter. Federated Hermes Inc. owned 0.79% of Generac worth $77,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. MUFG Securities EMEA plc acquired a new position in Generac in the 2nd quarter valued at approximately $25,000. First Horizon Corp bought a new stake in shares of Generac in the third quarter worth $28,000. Creative Capital Management Investments LLC increased its holdings in Generac by 740.7% in the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock valued at $33,000 after purchasing an additional 200 shares during the period. Quent Capital LLC bought a new position in Generac during the 3rd quarter worth $41,000. Finally, Red Tortoise LLC acquired a new position in Generac during the 3rd quarter worth about $42,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Performance

NYSE:GNRC opened at $174.09 on Thursday. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company has a fifty day moving average of $153.11 and a 200-day moving average of $167.71. The firm has a market capitalization of $10.22 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.37 and a beta of 1.82.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). Generac had a return on equity of 17.63% and a net margin of 6.92%.The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted $2.25 earnings per share. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total transaction of $832,150.00. Following the transaction, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GNRC has been the subject of several recent research reports. Roth Mkm set a $184.00 price target on Generac and gave the company a “neutral” rating in a research note on Thursday, October 30th. Barclays decreased their target price on shares of Generac from $197.00 to $186.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Needham & Company LLC began coverage on shares of Generac in a research report on Monday, January 12th. They issued a “buy” rating and a $211.00 price target on the stock. UBS Group reduced their price objective on shares of Generac from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group lowered their target price on shares of Generac from $240.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $195.29.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.