Rafferty Asset Management LLC Cuts Stock Position in Generac Holdings Inc. $GNRC

Rafferty Asset Management LLC decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 33.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,283 shares of the technology company’s stock after selling 2,633 shares during the period. Rafferty Asset Management LLC’s holdings in Generac were worth $884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MUFG Securities EMEA plc purchased a new stake in Generac during the second quarter worth about $25,000. First Horizon Corp acquired a new position in shares of Generac in the third quarter valued at approximately $28,000. Sentry Investment Management LLC increased its stake in Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares during the period. Quent Capital LLC acquired a new stake in Generac during the 3rd quarter worth approximately $41,000. Finally, Red Tortoise LLC acquired a new position in shares of Generac in the third quarter worth $42,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GNRC has been the topic of several analyst reports. UBS Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Generac in a research note on Friday, February 13th. TD Cowen lifted their price objective on Generac from $220.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Barclays upped their target price on shares of Generac from $186.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Zacks Research raised shares of Generac from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Roth Mkm reiterated a “neutral” rating and set a $220.00 price target on shares of Generac in a report on Thursday, February 12th. One 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. Based on data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average target price of $220.19.

Insider Activity

In related news, CFO York A. Ragen sold 24,362 shares of the company’s 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 of the company’s stock, valued at $32,321,451.02. This represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Generac Price Performance

Shares of NYSE:GNRC opened at $204.18 on Friday. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $241.09. The firm has a market capitalization of $11.98 billion, a P/E ratio of 76.19, a P/E/G ratio of 1.59 and a beta of 1.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. The company’s fifty day moving average price is $184.27 and its 200 day moving average price is $174.01.

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

Generac 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.