Wealth Effects LLC Sells 200 Shares of Generac Holdings Inc. (NYSE:GNRC)

Wealth Effects LLC decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,319 shares of the technology company’s stock after selling 200 shares during the quarter. Wealth Effects LLC’s holdings in Generac were worth $1,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of Generac in the 4th quarter worth approximately $1,435,000. Amalgamated Bank increased its stake in shares of Generac by 15.6% in the 4th quarter. Amalgamated Bank now owns 22,024 shares of the technology company’s stock worth $2,846,000 after acquiring an additional 2,975 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Generac by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 665,629 shares of the technology company’s stock worth $86,026,000 after purchasing an additional 15,490 shares during the period. Townsend & Associates Inc boosted its position in shares of Generac by 100.7% in the 4th quarter. Townsend & Associates Inc now owns 103,009 shares of the technology company’s stock worth $13,313,000 after purchasing an additional 51,683 shares in the last quarter. Finally, Kessler Investment Group LLC boosted its holdings in Generac by 16.0% in the fourth quarter. Kessler Investment Group LLC now owns 50,452 shares of the technology company’s stock worth $6,520,000 after acquiring an additional 6,974 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the completion of the sale, the chief executive officer now owns 577,177 shares in the company, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GNRC shares. Canaccord Genuity Group increased their price objective on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Northland Securities lifted their target price on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Oppenheimer downgraded Generac from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Roth Mkm lifted their price objective on shares of Generac from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $175.00 target price (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $154.71.

Generac Price Performance

Shares of GNRC traded down $0.25 during trading hours on Wednesday, hitting $146.78. 19,281 shares of the stock were exchanged, compared to its average volume of 966,950. The stock’s 50-day moving average price is $148.57 and its two-hundred day moving average price is $137.17. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $169.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. Research analysts expect that Generac Holdings Inc. will post 6.49 earnings per share for the current year.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.