Victory Capital Management Inc. Has $3.16 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on May 29th, 2023

Victory Capital Management Inc. lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 88.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,220 shares of the technology company’s stock after selling 203,665 shares during the period. Victory Capital Management Inc.’s holdings in Generac were worth $3,162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Continental Investors Services Inc. bought a new stake in Generac during the 3rd quarter valued at $220,000. Greenleaf Trust grew its stake in shares of Generac by 12.8% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the technology company’s stock worth $444,000 after acquiring an additional 499 shares in the last quarter. Advisors Capital Management LLC bought a new stake in shares of Generac in the 3rd quarter worth $4,504,000. Cubic Asset Management LLC bought a new stake in shares of Generac in the 4th quarter worth $337,000. Finally, Ulland Investment Advisors LLC grew its stake in shares of Generac by 135.4% in the 4th quarter. Ulland Investment Advisors LLC now owns 1,017 shares of the technology company’s stock worth $102,000 after acquiring an additional 585 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Generac from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Stephens boosted their price target on shares of Generac from $125.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. Stifel Nicolaus boosted their price target on shares of Generac from $130.00 to $135.00 in a report on Wednesday, May 17th. Robert W. Baird boosted their price target on shares of Generac from $119.00 to $136.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Finally, Scotiabank assumed coverage on shares of Generac in a report on Thursday, March 2nd. They issued a “sector perform” rating and a $165.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $171.77.

Generac Price Performance

GNRC stock opened at $115.43 on Monday. The firm has a 50 day moving average of $108.16 and a 200-day moving average of $109.08. 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 firm has a market capitalization of $7.18 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.93 and a beta of 1.16.

Generac (NYSE:GNRC – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.63 EPS for the quarter, beating 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 company had revenue of $887.90 million during the quarter, compared to analyst estimates of $850.07 million. During the same period last year, the business earned $2.09 earnings per share. Generac’s revenue was down 21.8% compared to the same quarter last year. As a group, sell-side analysts predict that Generac Holdings Inc. will post 5.98 earnings per share for the current fiscal year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 45,207 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $119.37, for a total value of $5,396,359.59. Following the sale, the chief executive officer now directly owns 615,269 shares of the company’s stock, valued at $73,444,660.53. 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 over the last three months. 2.80% of the stock is owned by corporate insiders.

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.