Victory Capital Management Inc. Sells 170 Shares of Generac Holdings Inc. (NYSE:GNRC)

Victory Capital Management Inc. cut its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,745 shares of the technology company’s stock after selling 170 shares during the quarter. Victory Capital Management Inc.’s holdings in Generac were worth $1,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nebula Research & Development LLC bought a new position in shares of Generac in the 4th quarter valued at about $3,638,000. Pinebridge Investments L.P. boosted its position in Generac by 28.1% during the fourth quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company’s stock valued at $10,697,000 after purchasing an additional 15,147 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Generac by 19.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company’s stock valued at $929,000 after purchasing an additional 1,195 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Generac during the 1st quarter worth approximately $245,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Generac by 15.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company’s stock worth $3,232,000 after purchasing an additional 3,345 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Generac from a “neutral” rating to a “mixed” rating in a report on Friday, July 11th. TD Securities dropped their target price on shares of Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. UBS Group cut their target price on shares of Generac from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Piper Sandler lowered their price target on Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Janney Montgomery Scott raised Generac from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.16.

Generac Stock Performance

Shares of NYSE:GNRC opened at $181.77 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $195.94. The company’s 50 day moving average price is $139.18 and its two-hundred day moving average price is $134.20. The firm has a market cap of $10.74 billion, a PE ratio of 31.67, a PEG ratio of 1.37 and a beta of 1.72.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Generac had a return on equity of 18.90% and a net margin of 7.68%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.35 EPS. Equities research analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 562,966 shares of the company’s stock, valued at $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.70% of the company’s stock.

About Generac

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.