Cim Investment Management Inc. Sells 9,887 Shares of Generac Holdings Inc. $GNRC

Cim Investment Management Inc. decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 50.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,638 shares of the technology company’s stock after selling 9,887 shares during the period. Cim Investment Management Inc.’s holdings in Generac were worth $1,613,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GNRC. NewEdge Advisors LLC lifted its stake in Generac by 2.7% during the 3rd quarter. NewEdge Advisors LLC now owns 2,749 shares of the technology company’s stock valued at $460,000 after acquiring an additional 73 shares in the last quarter. Woodline Partners LP increased its holdings in Generac by 21.4% in the 3rd quarter. Woodline Partners LP now owns 7,747 shares of the technology company’s stock worth $1,297,000 after acquiring an additional 1,364 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Generac in the third quarter worth about $768,000. XTX Topco Ltd bought a new stake in Generac during the 3rd quarter valued at $1,580,000. Finally, Tidal Investments LLC raised its stake in shares of Generac by 40.3% during the 3rd quarter. Tidal Investments LLC now owns 15,041 shares of the technology company’s stock valued at $2,518,000 after purchasing an additional 4,321 shares during the period. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GNRC shares. UBS Group reaffirmed a “buy” rating and set a $270.00 target price on shares of Generac in a report on Friday, February 13th. Barclays increased their price target on shares of Generac from $186.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. upgraded Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price objective on the stock in a report on Monday, December 8th. Bank of America lowered their price target on shares of Generac from $236.00 to $224.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $220.00 price target on shares of Generac in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.06.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares in the company, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.

Generac Stock Up 1.2%

Shares of NYSE GNRC opened at $204.87 on Wednesday. The stock’s fifty day simple moving average is $193.44 and its two-hundred day simple moving average is $174.54. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $241.09. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $12.02 billion, a PE ratio of 76.45, a price-to-earnings-growth ratio of 1.47 and a beta of 1.74.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company Profile

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.