Parallel Advisors LLC reduced its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 42.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 342 shares of the technology company’s stock after selling 251 shares during the quarter. Parallel Advisors LLC’s holdings in Generac were worth $34,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. raised its position in shares of Generac by 83.2% during the 1st quarter. Fairfield Bush & CO. now owns 7,102 shares of the technology company’s stock worth $2,111,000 after buying an additional 3,225 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Generac by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the technology company’s stock worth $2,509,000 after purchasing an additional 523 shares during the period. Prudential PLC bought a new position in Generac during the 1st quarter valued at $441,000. National Pension Service increased its position in shares of Generac by 12.8% during the 1st quarter. National Pension Service now owns 98,555 shares of the technology company’s stock valued at $29,296,000 after purchasing an additional 11,158 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Generac by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock worth $2,012,595,000 after buying an additional 130,854 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on GNRC shares. Guggenheim lowered Generac from a “buy” rating to a “neutral” rating in a report on Friday, February 3rd. Robert W. Baird lifted their price objective 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. Credit Suisse Group cut their target price on shares of Generac from $165.00 to $159.00 and set an “outperform” rating for the company in a research note on Thursday, February 2nd. Citigroup decreased their price target on shares of Generac from $140.00 to $127.00 in a research report on Friday, April 21st. Finally, StockNews.com downgraded Generac from a “hold” rating to a “sell” rating in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $180.17.
Generac Price Performance
Generac (NYSE:GNRC – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. Generac had a net margin of 6.91% and a return on equity of 19.63%. The firm had revenue of $887.90 million during the quarter, compared to analysts’ expectations of $850.07 million. During the same period in the prior year, the company posted $2.09 earnings per share. Generac’s revenue for the quarter was down 21.8% on a year-over-year basis. As a group, equities analysts predict that Generac Holdings Inc. will post 5.94 earnings per share for the current fiscal year.
Insider Activity at Generac
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $109.48, for a total transaction of $547,400.00. Following the completion of the sale, the chief executive officer now owns 627,690 shares of the company’s stock, valued at $68,719,501.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 55,207 shares of company stock valued at $6,454,560. Corporate insiders own 2.80% of the company’s stock.
About Generac
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.
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