Jennison Associates LLC Sells 129,486 Shares of Generac Holdings Inc. $GNRC

Jennison Associates LLC trimmed its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 18.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 578,566 shares of the technology company’s stock after selling 129,486 shares during the quarter. Jennison Associates LLC’s holdings in Generac were worth $82,856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GNRC. MassMutual Private Wealth & Trust FSB lifted its position in shares of Generac by 81.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock valued at $25,000 after acquiring an additional 77 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Generac during the 1st quarter worth $28,000. Creative Capital Management Investments LLC lifted its position in shares of Generac by 740.7% during the 2nd quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock worth $33,000 after buying an additional 200 shares during the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Generac during the 2nd quarter worth $36,000. Finally, Private Trust Co. NA lifted its position in shares of Generac by 42.9% during the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company’s stock worth $38,000 after buying an additional 90 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several recent analyst reports. Citigroup dropped their price objective on Generac from $219.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, October 21st. Canaccord Genuity Group dropped their price objective on Generac from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. JPMorgan Chase & Co. upped their price objective on Generac from $180.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Zacks Research downgraded Generac from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Finally, UBS Group reiterated a “buy” rating and issued a $220.00 target price (up from $200.00) on shares of Generac in a research report on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.94.

Generac Price Performance

Generac stock opened at $180.36 on Thursday. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $10.58 billion, a PE ratio of 29.96, a P/E/G ratio of 1.61 and a beta of 1.64. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $203.25. The stock has a 50-day moving average price of $180.91 and a two-hundred day moving average price of $155.56.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.20 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. Generac’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.25 earnings per share. Generac has set its FY 2025 guidance at EPS. Analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total value of $837,100.00. Following the completion of the sale, the chief executive officer owned 547,966 shares of the company’s stock, valued at approximately $91,740,467.72. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.70% 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.