Monte Financial Group LLC Sells 101 Shares of Generac Holdings Inc. (NYSE:GNRC)

Monte Financial Group LLC cut its holdings in Generac Holdings Inc. (NYSE:GNRC) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,158 shares of the technology company’s stock after selling 101 shares during the quarter. Monte Financial Group LLC’s holdings in Generac were worth $1,455,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. DAVENPORT & Co LLC raised its stake in shares of Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares during the last quarter. Willis Investment Counsel increased its holdings in shares of Generac by 18.7% in the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after purchasing an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Generac by 85.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after purchasing an additional 3,244 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in Generac during the 1st quarter worth $1,053,000. Finally, Nwam LLC boosted its position in Generac by 135.8% in the 1st quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock valued at $768,000 after buying an additional 3,242 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of recent research reports. Truist Financial boosted their target price on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Canaccord Genuity Group upped their target price on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Scotiabank lifted their price target on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Northland Securities boosted their price target on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, TD Cowen raised their price objective on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $165.40.

Generac Price Performance

Shares of NYSE GNRC opened at $166.15 on Thursday. The company has a fifty day moving average price of $155.27 and a 200 day moving average price of $146.74. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $176.14. The firm has a market cap of $10.07 billion, a PE ratio of 45.77, a PEG ratio of 2.22 and a beta of 1.38. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. Generac’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Research analysts predict that Generac Holdings Inc. will post 6.47 earnings per share for the current fiscal year.

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.