Southernsun Asset Management LLC Sells 6,974 Shares of Generac Holdings Inc. $GNRC

Southernsun Asset Management LLC lowered its stake in Generac Holdings Inc. (NYSE:GNRC) by 12.5% during the first quarter, HoldingsChannel.com reports. The firm owned 48,743 shares of the technology company’s stock after selling 6,974 shares during the period. Generac makes up about 1.4% of Southernsun Asset Management LLC’s holdings, making the stock its 25th biggest holding. Southernsun Asset Management LLC’s holdings in Generac were worth $9,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MUFG Securities EMEA plc acquired a new stake in shares of Generac during the second quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Generac in the third quarter valued at about $26,000. Avalon Trust Co acquired a new position in Generac in the first quarter valued at about $32,000. GHP Investment Advisors Inc. acquired a new position in Generac in the first quarter valued at about $36,000. Finally, Root Financial Partners LLC boosted its holdings in Generac by 32.9% during the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 54 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on GNRC. Wells Fargo & Company boosted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Raymond James Financial set a $302.00 price objective on shares of Generac in a research note on Friday, May 22nd. Barclays boosted their price objective on shares of Generac from $228.00 to $285.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. JPMorgan Chase & Co. upped their target price on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Generac from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and a consensus target price of $284.18.

Generac Stock Up 1.0%

Shares of Generac stock opened at $215.34 on Wednesday. The company has a market capitalization of $12.68 billion, a P/E ratio of 67.50, a price-to-earnings-growth ratio of 2.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The business has a 50-day moving average of $259.91 and a two-hundred day moving average of $221.82. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $1.26 EPS. Generac’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current year.

Insider Activity at Generac

In other news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the transaction, the insider owned 15,808 shares in the company, valued at $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,100 shares of company stock worth $1,651,443 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.

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.