Meridian Management Co. Sells 215 Shares of Generac Holdings Inc. (NYSE:GNRC)

Meridian Management Co. reduced its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 31,785 shares of the technology company’s stock after selling 215 shares during the quarter. Generac comprises 1.2% of Meridian Management Co.’s portfolio, making the stock its 24th biggest holding. Meridian Management Co.’s holdings in Generac were worth $4,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hurley Capital LLC bought a new position in shares of Generac during the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Generac in the first quarter worth about $28,000. Quadrant Capital Group LLC grew its stake in shares of Generac by 61.7% in the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company’s stock worth $35,000 after purchasing an additional 87 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Generac by 42.9% in the first quarter. Private Trust Co. NA now owns 300 shares of the technology company’s stock worth $38,000 after purchasing an additional 90 shares during the last quarter. Finally, Ostrum Asset Management bought a new stake in shares of Generac in the fourth quarter worth about $50,000. 84.04% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the completion of the transaction, the chief executive officer directly owned 562,966 shares in the company, valued at approximately $80,166,358.40. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

GNRC has been the topic of several recent analyst reports. UBS Group cut their target price on Generac from $205.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday. Canaccord Genuity Group cut their target price on Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Stephens reissued an “overweight” rating and issued a $175.00 target price on shares of Generac in a research note on Tuesday, May 27th. Citigroup raised Generac from a “neutral” rating to a “mixed” rating in a research note on Friday, July 11th. Finally, Stifel Nicolaus cut their target price on Generac from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.58.

Generac Price Performance

GNRC stock opened at $156.88 on Monday. The firm has a 50 day moving average price of $136.99 and a 200-day moving average price of $133.76. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 1.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.27. Generac had a net margin of 7.68% and a return on equity of 18.90%. The firm had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Equities research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac 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.