Monte Financial Group LLC Trims Stake in Generac Holdings Inc. $GNRC

Monte Financial Group LLC reduced its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 30.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,812 shares of the technology company’s stock after selling 3,415 shares during the period. Monte Financial Group LLC’s holdings in Generac were worth $1,308,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC raised its position in shares of Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after purchasing an additional 142 shares during the last quarter. Woodline Partners LP increased its stake in Generac by 40.9% during the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after buying an additional 1,463 shares during the period. GAMMA Investing LLC increased its holdings in Generac by 18.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,318 shares of the technology company’s stock worth $189,000 after purchasing an additional 206 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Generac by 11.0% during the second quarter. Fifth Third Bancorp now owns 2,913 shares of the technology company’s stock worth $417,000 after purchasing an additional 289 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Generac by 1.5% in the second quarter. Public Employees Retirement System of Ohio now owns 19,508 shares of the technology company’s stock worth $2,794,000 after purchasing an additional 282 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total value of $832,150.00. Following the transaction, the chief executive officer directly owned 542,966 shares in the company, valued at approximately $90,365,831.38. This trade represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GNRC shares. Bank of America reduced their price objective on Generac from $236.00 to $224.00 and set a “buy” rating for the company in a research report on Wednesday, January 7th. Needham & Company LLC began coverage on Generac in a research report on Monday, January 12th. They set a “buy” rating and a $211.00 price target on the stock. Citigroup upgraded Generac from a “neutral” rating to a “buy” rating and set a $207.00 price target for the company in a report on Thursday, January 8th. UBS Group decreased their target price on Generac from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Roth Mkm set a $184.00 price objective on shares of Generac and gave the stock a “neutral” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.29.

Generac Stock Performance

NYSE GNRC opened at $172.96 on Monday. The company has a 50 day moving average of $151.48 and a 200-day moving average of $167.42. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $203.25. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 1.39 and a beta of 1.82.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. Generac had a net margin of 6.92% and a return on equity of 17.63%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 earnings per share. On average, equities analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Generac Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.