Bridges Investment Management Inc. Decreases Stake in Generac Holdings Inc. (NYSE:GNRC)

Bridges Investment Management Inc. cut its position in Generac Holdings Inc. (NYSE:GNRC) by 46.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,666 shares of the technology company’s stock after selling 72,538 shares during the period. Bridges Investment Management Inc.’s holdings in Generac were worth $13,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. lifted its holdings in Generac by 22.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,022 shares of the technology company’s stock worth $255,000 after buying an additional 376 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Generac by 2.3% in the first quarter. Texas Permanent School Fund Corp now owns 12,690 shares of the technology company’s stock valued at $1,601,000 after purchasing an additional 287 shares in the last quarter. Empirical Finance LLC increased its stake in Generac by 4.5% in the first quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock valued at $220,000 after purchasing an additional 75 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Generac by 27.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,756 shares of the technology company’s stock worth $474,000 after purchasing an additional 807 shares in the last quarter. Finally, Delta Financial Advisors LLC boosted its holdings in shares of Generac by 29.4% in the 1st quarter. Delta Financial Advisors LLC now owns 4,485 shares of the technology company’s stock valued at $566,000 after buying an additional 1,020 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Performance

NYSE GNRC opened at $189.35 on Friday. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 2.25 and a beta of 1.37. The business’s 50 day moving average is $159.83 and its two-hundred day moving average is $149.91. Generac Holdings Inc. has a 12-month low of $101.15 and a 12-month high of $190.42. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 earnings per share. Research analysts expect that Generac Holdings Inc. will post 6.8 EPS for the current year.

Analyst Ratings Changes

GNRC has been the topic of several research analyst reports. Roth Mkm lifted their price target on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. 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. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. The Goldman Sachs Group lifted their price target on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Scotiabank boosted their price objective on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.10.

Insider Activity at Generac

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 over the last 90 days. Company insiders own 2.90% of the company’s stock.

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.