International Assets Investment Management LLC Sells 718 Shares of Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on Jul 4th, 2023

International Assets Investment Management LLC cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 23.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,315 shares of the technology company’s stock after selling 718 shares during the quarter. International Assets Investment Management LLC’s holdings in Generac were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Continental Investors Services Inc. bought a new stake in shares of Generac in the third quarter worth about $220,000. Exchange Traded Concepts LLC bought a new stake in shares of Generac in the first quarter worth about $44,000. Arrow Investment Advisors LLC bought a new stake in shares of Generac in the fourth quarter worth about $207,000. Greenleaf Trust increased its holdings in shares of Generac by 12.8% in the fourth quarter. Greenleaf Trust now owns 4,408 shares of the technology company’s stock worth $444,000 after purchasing an additional 499 shares during the last quarter. Finally, Advisors Capital Management LLC bought a new stake in shares of Generac in the third quarter worth about $4,504,000. 85.93% of the stock is owned by institutional investors.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was 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 $63,614,010.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’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 sale, the chief executive officer now directly owns 622,690 shares of the company’s stock, valued at $63,614,010.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rajendra Kumar Kanuru sold 250 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $149.15, for a total transaction of $37,287.50. Following the sale, the executive vice president now directly owns 16,618 shares in the company, valued at $2,478,574.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,250 shares of company stock valued at $1,834,438. Corporate insiders own 2.80% of the company’s stock.

Generac Stock Performance

Shares of GNRC stock opened at $150.60 on Tuesday. The business’s fifty day simple moving average is $118.25 and its 200-day simple moving average is $113.37. The company has a market cap of $9.37 billion, a PE ratio of 38.42, a PEG ratio of 2.54 and a beta of 1.24. 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 $282.62.

Generac (NYSE:GNRC – Free Report) last issued its quarterly earnings results 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. The business had revenue of $887.90 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. Analysts expect that Generac Holdings Inc. will post 5.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on GNRC. Bank of America lowered Generac from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $141.00 to $91.00 in a research report on Friday, March 31st. Stifel Nicolaus lifted their price target on Generac from $130.00 to $135.00 in a research report on Wednesday, May 17th. Truist Financial dropped their price target on Generac from $145.00 to $120.00 in a research report on Monday, May 1st. StockNews.com upgraded Generac from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Finally, Citigroup dropped their price target on Generac from $140.00 to $127.00 in a research report on Friday, April 21st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.77.

Generac Profile

(Free Report)

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.