Oppenheimer & Co. Inc. Trims Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Oppenheimer & Co. Inc. decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,774 shares of the technology company’s stock after selling 9,404 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Generac were worth $7,114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GNRC. Texas Permanent School Fund Corp increased its holdings in shares of Generac by 2.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 12,690 shares of the technology company’s stock worth $1,601,000 after buying an additional 287 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Generac by 27.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,756 shares of the technology company’s stock worth $474,000 after purchasing an additional 807 shares during the period. ProShare Advisors LLC raised its holdings in shares of Generac by 17.3% in the 1st quarter. ProShare Advisors LLC now owns 11,069 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 1,635 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Generac in the 1st quarter valued at about $233,000. Finally, State Board of Administration of Florida Retirement System increased its position in Generac by 16.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 75,317 shares of the technology company’s stock worth $9,500,000 after purchasing an additional 10,420 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO York A. Ragen sold 29,081 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the sale, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by insiders.

Generac Trading Up 0.4 %

NYSE GNRC opened at $191.04 on Thursday. The company’s fifty day moving average price is $162.35 and its two-hundred day moving average price is $151.13. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.37. Generac Holdings Inc. has a 12 month low of $106.72 and a 12 month high of $195.94. 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 (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

GNRC has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler upped their price target on shares of Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Robert W. Baird cut their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Scotiabank boosted their price objective on Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research note 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.10.

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.