Holocene Advisors LP Sells 43,971 Shares of Generac Holdings Inc. $GNRC

Holocene Advisors LP lowered its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 12.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 312,652 shares of the technology company’s stock after selling 43,971 shares during the period. Holocene Advisors LP owned approximately 0.53% of Generac worth $52,338,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Gotham Asset Management LLC grew its position in shares of Generac by 1.4% during the 3rd quarter. Gotham Asset Management LLC now owns 239,173 shares of the technology company’s stock worth $40,038,000 after buying an additional 3,353 shares during the period. Focus Partners Wealth lifted its position in shares of Generac by 631.0% during the 3rd quarter. Focus Partners Wealth now owns 55,043 shares of the technology company’s stock valued at $9,210,000 after acquiring an additional 47,513 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Generac during the 3rd quarter valued at $226,000. California Public Employees Retirement System boosted its stake in Generac by 4.6% during the third quarter. California Public Employees Retirement System now owns 109,032 shares of the technology company’s stock worth $18,252,000 after acquiring an additional 4,786 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in Generac by 15.0% in the third quarter. Bank of Nova Scotia now owns 4,079 shares of the technology company’s stock worth $683,000 after purchasing an additional 531 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GNRC. UBS Group reaffirmed a “buy” rating and issued a $270.00 price target on shares of Generac in a research note on Friday, February 13th. Bank of America cut their price objective on shares of Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Roth Mkm reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Generac in a research report on Thursday, February 12th. Robert W. Baird set a $292.00 price target on Generac in a research note on Thursday, February 12th. Finally, TD Cowen increased their price target on Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.06.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Generac Stock Up 0.9%

Shares of NYSE GNRC opened at $202.36 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. The company has a 50-day moving average price of $192.25 and a 200-day moving average price of $174.40. The stock has a market capitalization of $11.87 billion, a P/E ratio of 75.51, a P/E/G ratio of 1.46 and a beta of 1.74. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $241.09.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $2.80 EPS. The company’s revenue was down 11.6% on a year-over-year basis. On average, equities research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company 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.