Peregrine Capital Management LLC Has $9.80 Million Stock Position in Generac Holdings Inc. $GNRC

Peregrine Capital Management LLC trimmed its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,544 shares of the technology company’s stock after selling 6,748 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.10% of Generac worth $9,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of GNRC. MassMutual Private Wealth & Trust FSB grew its holdings in Generac by 81.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock valued at $25,000 after purchasing an additional 77 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Generac during the second quarter valued at approximately $25,000. Creative Capital Management Investments LLC lifted its holdings in shares of Generac by 740.7% during the 2nd quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock worth $33,000 after acquiring an additional 200 shares during the period. Legend Financial Advisors Inc. bought a new stake in Generac in the second quarter valued at $36,000. Finally, Red Tortoise LLC acquired a new position in Generac in the third quarter valued at about $42,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the topic of a number of research analyst reports. UBS Group decreased their price objective on shares of Generac from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $240.00 price objective on shares of Generac in a research report on Thursday, October 30th. Barclays raised their price objective on Generac from $188.00 to $197.00 and gave the company an “equal weight” rating in a report on Friday, October 31st. Bank of America cut their target price on shares of Generac from $236.00 to $224.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Generac in a research report on Wednesday, October 8th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $198.44.

Generac Stock Up 5.0%

Shares of Generac stock opened at $148.89 on Friday. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.13 and a beta of 1.82. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $203.25. The stock’s 50-day moving average is $150.37 and its 200 day moving average is $165.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.18 and a quick ratio of 1.02.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.20 billion. Generac had a net margin of 6.92% and a return on equity of 17.63%. The company’s revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.25 EPS. Equities research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total value of $832,150.00. Following the transaction, the chief executive officer owned 542,966 shares of the company’s stock, valued at $90,365,831.38. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by company insiders.

Generac Company 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.