Securian Asset Management Inc. Has $507,000 Holdings in Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on Apr 26th, 2023

Securian Asset Management Inc. cut its position in Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,041 shares of the technology company’s stock after selling 405 shares during the period. Securian Asset Management Inc.’s holdings in Generac were worth $507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GNRC. Ronald Blue Trust Inc. boosted its position in Generac by 552.6% in the third quarter. Ronald Blue Trust Inc. now owns 124 shares of the technology company’s stock valued at $26,000 after buying an additional 105 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new position in shares of Generac in the fourth quarter worth about $27,000. Ameliora Wealth Management Ltd. bought a new position in shares of Generac in the third quarter worth about $29,000. Exos TFP Holdings LLC bought a new position in shares of Generac in the third quarter worth about $30,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Generac in the third quarter worth about $35,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Generac from $119.00 to $136.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Scotiabank assumed coverage on shares of Generac in a research note on Thursday, March 2nd. They issued a “sector perform” rating and a $165.00 target price for the company. Canaccord Genuity Group raised shares of Generac from a “hold” rating to a “buy” rating and boosted their target price for the stock from $104.00 to $175.00 in a research note on Thursday, February 16th. Stephens boosted their price target on shares of Generac from $125.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 21st. Finally, Oppenheimer boosted their price target on shares of Generac from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, March 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Generac currently has an average rating of “Hold” and an average target price of $193.92.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $109.48, for a total transaction of $547,400.00. Following the sale, the chief executive officer now directly owns 627,690 shares of the company’s stock, valued at $68,719,501.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Generac Stock Performance

Shares of GNRC opened at $102.10 on Wednesday. Generac Holdings Inc. has a 12 month low of $86.29 and a 12 month high of $299.85. The firm has a fifty day simple moving average of $112.35 and a 200 day simple moving average of $110.70. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.72 and a beta of 1.16. The company has a current ratio of 2.20, a quick ratio of 0.78 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.08. Generac had a net margin of 8.75% and a return on equity of 23.82%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $2.51 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts forecast that Generac Holdings Inc. will post 5.96 EPS for the current fiscal year.

About Generac

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Generac Holdings, Inc engages in the business of designing and manufacturing energy technology solutions. It operates under the Domestic and International segments. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the United States and Canada. The International segment focuses on Generac business’ Latin American export operations.