Sei Investments Co. Lowers Position in Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on Jun 4th, 2023

Sei Investments Co. lessened its position in Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 74.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,400 shares of the technology company’s stock after selling 193,204 shares during the quarter. Sei Investments Co. owned approximately 0.10% of Generac worth $6,684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC bought a new stake in Generac in the fourth quarter worth $27,000. Exos TFP Holdings LLC bought a new stake in Generac in the third quarter worth $30,000. Glassman Wealth Services boosted its holdings in Generac by 568.2% in the fourth quarter. Glassman Wealth Services now owns 294 shares of the technology company’s stock worth $30,000 after acquiring an additional 250 shares in the last quarter. CoreCap Advisors LLC bought a new stake in Generac in the fourth quarter worth $33,000. Finally, IAG Wealth Partners LLC boosted its holdings in Generac by 98.0% in the fourth quarter. IAG Wealth Partners LLC now owns 404 shares of the technology company’s stock worth $41,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 transaction, the chief executive officer now directly owns 627,690 shares of the company’s stock, valued at $68,719,501.20. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 15,000 shares of company stock valued at $1,598,800. Insiders own 2.80% of the company’s stock.

Generac Stock Performance

NYSE:GNRC opened at $114.78 on Friday. The stock has a 50-day simple moving average of $108.37 and a two-hundred day simple moving average of $109.20. Generac Holdings Inc. has a 52-week low of $86.29 and a 52-week high of $299.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.82 and a current ratio of 2.40. The firm has a market capitalization of $7.14 billion, a PE ratio of 29.28, a P/E/G ratio of 1.92 and a beta of 1.15.

Generac (NYSE:GNRC – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. The firm had revenue of $887.90 million during the quarter, compared to analyst estimates of $850.07 million. Generac had a return on equity of 19.63% and a net margin of 6.91%. The business’s quarterly revenue was down 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 earnings per share. Analysts forecast that Generac Holdings Inc. will post 5.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stephens boosted their target price on Generac from $125.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. Citigroup decreased their price target on Generac from $140.00 to $127.00 in a research note on Friday, April 21st. Bank of America cut Generac from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $141.00 to $91.00 in a research note on Friday, March 31st. Robert W. Baird boosted their price target on Generac from $119.00 to $136.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Finally, StockNews.com upgraded Generac from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $171.77.

Generac Profile

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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.