abrdn plc Reduces Holdings in Generac Holdings Inc. (NYSE:GNRC)

Posted by on May 24th, 2023

abrdn plc lowered its position in Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 93.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 32,191 shares of the technology company’s stock after selling 491,358 shares during the period. abrdn plc owned 0.05% of Generac worth $3,240,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GNRC. Fairfield Bush & CO. boosted its stake in Generac by 83.2% during the first 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 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Generac by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the technology company’s stock valued at $2,509,000 after acquiring an additional 523 shares during the last quarter. Prudential PLC purchased a new stake in shares of Generac in the first quarter valued at about $441,000. National Pension Service increased its position in Generac by 12.8% during the first quarter. National Pension Service now owns 98,555 shares of the technology company’s stock worth $29,296,000 after purchasing an additional 11,158 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock worth $2,012,595,000 after purchasing an additional 130,854 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $102.16, for a total transaction of $510,800.00. Following the transaction, the chief executive officer now directly owns 622,690 shares of the company’s stock, valued at approximately $63,614,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 55,207 shares of company stock valued at $6,454,560 in the last ninety days. 2.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on GNRC shares. Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating in a report on Tuesday, February 21st. Stephens raised their price objective on Generac from $125.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. StockNews.com raised shares of Generac from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company cut shares of Generac from an “overweight” rating to an “equal weight” rating and set a $135.00 price target for the company. in a research report on Friday, February 17th. Finally, Citigroup decreased their price objective on shares of Generac from $140.00 to $127.00 in a report on Friday, April 21st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Generac currently has an average rating of “Hold” and a consensus target price of $180.39.

Generac Trading Down 0.6 %

Shares of Generac stock opened at $117.55 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65. Generac Holdings Inc. has a 12-month low of $86.29 and a 12-month high of $299.85. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.90 and a beta of 1.16. The company has a fifty day simple moving average of $108.04 and a 200-day simple moving average of $108.73.

Generac (NYSE:GNRC – Get Rating) last announced its earnings results on Wednesday, May 3rd. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. The firm had revenue of $887.90 million during the quarter, compared to analysts’ expectations of $850.07 million. Generac had a return on equity of 19.63% and a net margin of 6.91%. The business’s revenue was down 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. On average, equities analysts forecast that Generac Holdings Inc. will post 5.98 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.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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