Somerset Trust Co Sells 86 Shares of Generac Holdings Inc. (NYSE:GNRC)

Somerset Trust Co reduced its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,630 shares of the technology company’s stock after selling 86 shares during the quarter. Somerset Trust Co’s holdings in Generac were worth $253,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sunbelt Securities Inc. raised its holdings in Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Generac during the fourth quarter valued at about $27,000. Versant Capital Management Inc boosted its holdings in shares of Generac by 391.9% during the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after purchasing an additional 145 shares during the period. Brooklyn Investment Group bought a new stake in shares of Generac in the third quarter worth about $31,000. Finally, SouthState Corp purchased a new position in Generac during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of GNRC opened at $161.12 on Friday. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The company has a market capitalization of $9.59 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 1.59 and a beta of 1.42. The firm has a 50 day moving average of $170.92 and a 200 day moving average of $160.60. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 6.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GNRC has been the subject of several research analyst reports. Roth Mkm increased their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. TD Cowen boosted their price objective on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird dropped their target price on shares of Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.30.

Insider Transactions at Generac

In other 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 value 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 0.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,577,703 over the last three months. 2.90% of the stock is currently owned by company insiders.

Generac Company 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.