Panagora Asset Management Inc. Sells 7,411 Shares of Generac Holdings Inc. (NYSE:GNRC)

Panagora Asset Management Inc. trimmed its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 80.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,771 shares of the technology company’s stock after selling 7,411 shares during the quarter. Panagora Asset Management Inc.’s holdings in Generac were worth $229,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. California Public Employees Retirement System increased its holdings in Generac by 2.6% during the 3rd quarter. California Public Employees Retirement System now owns 89,649 shares of the technology company’s stock worth $9,768,000 after acquiring an additional 2,246 shares during the period. Ieq Capital LLC increased its holdings in shares of Generac by 8.6% in the third quarter. Ieq Capital LLC now owns 3,726 shares of the technology company’s stock worth $406,000 after purchasing an additional 294 shares during the period. HM Payson & Co. increased its holdings in shares of Generac by 5.7% in the third quarter. HM Payson & Co. now owns 3,721 shares of the technology company’s stock worth $405,000 after purchasing an additional 200 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Generac by 11.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 62,712 shares of the technology company’s stock valued at $6,833,000 after buying an additional 6,683 shares during the period. Finally, Jump Financial LLC purchased a new position in Generac during the third quarter worth about $1,611,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Trading Up 3.1 %

NYSE:GNRC opened at $148.66 on Friday. The firm has a market capitalization of $9.01 billion, a P/E ratio of 40.95, a P/E/G ratio of 1.97 and a beta of 1.41. The company has a quick ratio of 0.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $133.62 and a 200 day moving average of $123.49. Generac Holdings Inc. has a 52 week low of $79.86 and a 52 week high of $156.95.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.16. The company had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. Generac’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. On average, research analysts predict that Generac Holdings Inc. will post 6.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Robert W. Baird raised their price target on Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Guggenheim lowered shares of Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $149.00 price target on shares of Generac in a report on Thursday. Roth Mkm lifted their price objective on shares of Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Finally, OTR Global raised Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.15.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the sale, the chief executive officer now owns 592,177 shares in the company, valued at $75,170,948.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Erik Wilde sold 4,384 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total value of $675,311.36. Following the completion of the transaction, the executive vice president now owns 17,897 shares of the company’s stock, valued at approximately $2,756,853.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the completion of the transaction, the chief executive officer now owns 592,177 shares of the company’s stock, valued at approximately $75,170,948.38. The disclosure for this sale can be found here. Insiders sold a total of 14,930 shares of company stock worth $2,086,502 over the last quarter. 2.80% of the stock is owned by corporate insiders.

About Generac

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.