First Eagle Investment Management LLC Lowers Holdings in Generac Holdings Inc. $GNRC

First Eagle Investment Management LLC decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 31.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,235 shares of the technology company’s stock after selling 2,444 shares during the period. First Eagle Investment Management LLC’s holdings in Generac were worth $876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. MUFG Securities EMEA plc bought a new stake in shares of Generac during the second quarter valued at approximately $25,000. First Horizon Corp purchased a new stake in shares of Generac during the 3rd quarter valued at about $28,000. Sentry Investment Management LLC lifted its stake in shares of Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Quent Capital LLC bought a new stake in Generac in the third quarter worth $41,000. Finally, Red Tortoise LLC purchased a new position in shares of Generac during the 3rd quarter worth about $42,000. Institutional investors own 84.04% of the company’s stock.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.70% of the company’s stock.

Generac Stock Down 0.9%

GNRC stock opened at $218.90 on Friday. The company has a market capitalization of $12.85 billion, a P/E ratio of 81.68, a price-to-earnings-growth ratio of 1.61 and a beta of 1.74. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $241.09. The firm’s fifty day simple moving average is $183.01 and its 200-day simple moving average is $173.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GNRC. Guggenheim restated a “neutral” rating and set a $202.00 price objective on shares of Generac in a report on Tuesday, February 10th. Roth Mkm reiterated a “neutral” rating and set a $220.00 price objective on shares of Generac in a research note on Thursday, February 12th. Bank of America cut their target price on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Wells Fargo & Company lifted their price target on shares of Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Robert W. Baird set a $292.00 price objective on shares of Generac in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and a consensus price target of $220.19.

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.