Generac Holdings Inc. (NYSE:GNRC) Stock Holdings Lessened by Needham Investment Management LLC

Needham Investment Management LLC decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 45.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 15,000 shares of the technology company’s stock after selling 12,500 shares during the period. Needham Investment Management LLC’s holdings in Generac were worth $2,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GNRC. William Blair Investment Management LLC acquired a new stake in Generac in the second quarter worth $98,282,000. The Manufacturers Life Insurance Company raised its stake in Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after acquiring an additional 299,205 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Generac in the third quarter worth $45,722,000. International Assets Investment Management LLC increased its stake in Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after buying an additional 266,026 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in shares of Generac by 678.5% during the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after acquiring an additional 167,641 shares during the period. Institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. TD Cowen upped their price objective on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial lifted their price objective on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Stephens reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Generac in a report on Monday, August 5th. Finally, Roth Mkm raised their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.58.

Generac Stock Down 0.4 %

NYSE:GNRC traded down $0.75 during mid-day trading on Tuesday, reaching $186.70. The stock had a trading volume of 60,843 shares, compared to its average volume of 935,460. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The business’s 50 day moving average is $173.74 and its 200 day moving average is $155.73. The stock has a market cap of $11.11 billion, a P/E ratio of 38.89, a PEG ratio of 2.31 and a beta of 1.39.

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

Insider Buying and Selling

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the transaction, the chief executive officer now directly owns 557,177 shares of the company’s stock, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,268 shares of company stock valued at $7,584,853. Insiders own 2.90% of the company’s stock.

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.