Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Purus Wealth Management LLC

Purus Wealth Management LLC reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,637 shares of the technology company’s stock after selling 135 shares during the period. Purus Wealth Management LLC’s holdings in Generac were worth $216,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Capital World Investors raised its stake in Generac by 2.1% in the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after buying an additional 25,646 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Generac in the second quarter valued at $98,282,000. Dimensional Fund Advisors LP raised its stake in Generac by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after buying an additional 35,026 shares in the last quarter. Norges Bank acquired a new stake in Generac in the fourth quarter valued at $67,253,000. Finally, Ninety One UK Ltd raised its stake in Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after buying an additional 3,849 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac 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 directly owns 577,177 shares in the company, valued at approximately $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Generac Price Performance

Shares of GNRC opened at $143.75 on Wednesday. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $169.57. The stock’s 50 day moving average is $149.59 and its two-hundred day moving average is $139.26. The firm has a market capitalization of $8.71 billion, a PE ratio of 39.60, a P/E/G ratio of 1.83 and a beta of 1.38. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Research analysts anticipate that Generac Holdings Inc. will post 6.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GNRC shares. Wells Fargo & Company raised their price target on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their target price on Generac from $129.00 to $148.00 and gave the stock 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 stock an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Canaccord Genuity Group lifted their target price on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $154.71.

Generac 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.