Meridian Management Co. Trims Stock Holdings in Generac Holdings Inc. $GNRC

Meridian Management Co. cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 23.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,520 shares of the technology company’s stock after selling 8,023 shares during the period. Generac accounts for about 1.2% of Meridian Management Co.’s holdings, making the stock its 29th biggest position. Meridian Management Co.’s holdings in Generac were worth $4,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Horizon Corp purchased a new position in shares of Generac during the third quarter worth about $28,000. MUFG Securities EMEA plc acquired a new stake in Generac during the 2nd quarter worth approximately $25,000. Creative Capital Management Investments LLC increased its holdings in shares of 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 purchased a new stake in shares of Generac during the third quarter worth approximately $41,000. Finally, Red Tortoise LLC acquired a new stake in shares of Generac during the third quarter worth $42,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $166.43, for a total value of $832,150.00. Following the transaction, the chief executive officer directly owned 542,966 shares in the company, valued at approximately $90,365,831.38. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.

Generac Trading Down 2.4%

NYSE:GNRC opened at $169.94 on Friday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $153.71 and a 200-day simple moving average of $167.72. The company has a market capitalization of $9.97 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.82.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share (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 business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The business’s revenue was down 5.0% on a year-over-year basis. On average, equities research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GNRC. Wells Fargo & Company set a $195.00 target price on shares of Generac in a research note on Friday, December 19th. Bank of America lowered their price objective on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Roth Mkm set a $184.00 price target on Generac and gave the company a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group cut their price objective on Generac from $240.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.