Bridges Investment Management Inc. Cuts Holdings in Generac Holdings Inc. $GNRC

Bridges Investment Management Inc. decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 23.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,158 shares of the technology company’s stock after selling 4,592 shares during the period. Bridges Investment Management Inc.’s holdings in Generac were worth $2,067,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc bought a new position in shares of Generac in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac in the 3rd quarter valued at about $26,000. Sentry Investment Management LLC lifted its holdings in shares of Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after acquiring an additional 67 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Generac by 33.8% in the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock valued at $59,000 after acquiring an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Generac in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, April 30th. UBS Group increased their price target on shares of Generac from $270.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Zacks Research raised shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their price target on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Roth Mkm reissued a “neutral” rating and issued a $257.00 price objective on shares of Generac in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.88.

Generac Stock Performance

Shares of NYSE:GNRC opened at $285.29 on Thursday. The firm has a market cap of $16.80 billion, a PE ratio of 89.43, a price-to-earnings-growth ratio of 2.66 and a beta of 1.93. The firm’s 50 day simple moving average is $234.94 and its 200-day simple moving average is $196.20. Generac Holdings Inc. has a one year low of $123.66 and a one year high of $294.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.

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

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.

About Generac

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.