Generac Holdings Inc. $GNRC Stock Holdings Cut by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 49.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,241 shares of the technology company’s stock after selling 9,855 shares during the quarter. ProShare Advisors LLC’s holdings in Generac were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC bought a new stake in shares of Generac in the 2nd quarter worth about $25,000. Avalon Trust Co acquired a new position in shares of Generac during the first quarter worth approximately $32,000. Essential Partners LLC grew its position in shares of Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after buying an additional 61 shares during the period. Continuum Advisory LLC bought a new position in shares of Generac in the 2nd quarter worth $51,000. Finally, Fiduciary Financial Advisors acquired a new position in Generac during the second quarter valued at approximately $50,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other Generac news, insider Kyle Raabe sold 603 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $212.57, for a total transaction of $128,179.71. Following the completion of the sale, the insider owned 9,966 shares of the company’s stock, valued at $2,118,472.62. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, insider Norman P. Taffe sold 400 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $188.70, for a total value of $75,480.00. Following the transaction, the insider owned 11,276 shares of the company’s stock, valued at approximately $2,127,781.20. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,606 shares of company stock worth $2,491,310. Corporate insiders own 2.40% of the company’s stock.

Generac Trading Up 2.2%

GNRC stock traded up $3.80 during midday trading on Friday, reaching $176.13. 1,270,304 shares of the company traded hands, compared to its average volume of 1,179,782. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The business has a 50 day moving average of $197.79 and a 200-day moving average of $218.22. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 1.72 and a beta of 1.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.97.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. Generac had a net margin of 6.52% and a return on equity of 18.78%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $1.83 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, sell-side analysts expect that Generac Holdings Inc. will post 9.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GNRC. Piper Sandler lowered their target price on shares of Generac from $303.00 to $279.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Barclays increased their price target on Generac from $278.00 to $281.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Raymond James Financial set a $279.00 price objective on shares of Generac in a report on Thursday, October 29th. Canaccord Genuity Group lifted their target price on shares of Generac from $275.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a report on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.41.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.