Oppenheimer & Co. Inc. Sells 2,514 Shares of Generac Holdings Inc. (NYSE:GNRC)

Oppenheimer & Co. Inc. lessened its position in Generac Holdings Inc. (NYSE:GNRC) by 4.4% in the second quarter, HoldingsChannel.com reports. The fund owned 54,178 shares of the technology company’s stock after selling 2,514 shares during the period. Oppenheimer & Co. Inc.’s holdings in Generac were worth $7,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GNRC. Teacher Retirement System of Texas grew its holdings in Generac by 91.7% during the fourth quarter. Teacher Retirement System of Texas now owns 9,183 shares of the technology company’s stock worth $1,187,000 after purchasing an additional 4,393 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares during the period. Capital World Investors acquired a new position in shares of Generac during the 4th quarter worth approximately $155,707,000. Kampmann Melissa S. bought a new stake in Generac in the 4th quarter valued at $750,000. Finally, Bank of Nova Scotia lifted its holdings in Generac by 1,350.9% during the 4th quarter. Bank of Nova Scotia now owns 32,559 shares of the technology company’s stock valued at $4,208,000 after purchasing an additional 30,315 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $126.00 to $154.00 in a research report on Thursday, June 13th. Wells Fargo & Company boosted their price objective on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Truist Financial boosted their price target on Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Generac has an average rating of “Hold” and an average price target of $154.71.

Generac Price Performance

Generac stock opened at $140.53 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. Generac Holdings Inc. has a 52 week low of $79.86 and a 52 week high of $169.57. The stock has a market capitalization of $8.45 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. The stock has a fifty day moving average of $149.59 and a 200-day moving average of $138.26.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts expect that Generac Holdings Inc. will post 6.52 earnings per share for the current fiscal year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.80% of the stock is owned by insiders.

Generac Company Profile

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.