Centre Asset Management LLC Decreases Stake in Generac Holdings Inc. (NYSE:GNRC)

Centre Asset Management LLC trimmed its holdings in Generac Holdings Inc. (NYSE:GNRC) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 60,834 shares of the technology company’s stock after selling 4,872 shares during the period. Generac comprises about 2.2% of Centre Asset Management LLC’s portfolio, making the stock its 19th largest holding. Centre Asset Management LLC’s holdings in Generac were worth $9,432,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Modus Advisors LLC bought a new stake in shares of Generac in the fourth quarter worth $27,000. GAMMA Investing LLC raised its position in shares of Generac by 28.5% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the technology company’s stock valued at $269,000 after buying an additional 384 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after buying an additional 145 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Generac by 5.0% during the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock worth $11,324,000 after acquiring an additional 3,426 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in Generac by 0.8% during the third quarter. Retirement Systems of Alabama now owns 13,476 shares of the technology company’s stock valued at $2,141,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

Shares of NYSE GNRC traded up $0.37 during midday trading on Friday, reaching $157.37. 106,005 shares of the stock were exchanged, compared to its average volume of 433,851. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The firm has a 50-day simple moving average of $173.92 and a two-hundred day simple moving average of $158.80. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 EPS. As a group, analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares in the company, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,268 shares of company stock worth $6,790,203 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GNRC shares. Piper Sandler raised their price objective on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird cut their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Citigroup increased their target price on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Barclays began coverage on shares of Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price objective on the stock. Finally, StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $175.30.

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.