Chase Investment Counsel Corp Sells 636 Shares of Generac Holdings Inc. (NYSE:GNRC)

Chase Investment Counsel Corp lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,336 shares of the technology company’s stock after selling 636 shares during the period. Chase Investment Counsel Corp’s holdings in Generac were worth $4,083,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of Generac by 133.6% in the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after purchasing an additional 384,434 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after purchasing an additional 299,205 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after purchasing an additional 167,641 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Generac by 819.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 183,254 shares of the technology company’s stock valued at $28,738,000 after purchasing an additional 163,323 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Generac by 498.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 126,121 shares of the technology company’s stock valued at $19,555,000 after purchasing an additional 105,063 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the completion of the sale, the chief executive officer now directly owns 570,825 shares of the company’s stock, valued at $89,904,937.50. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GNRC has been the topic of a number of research analyst reports. Citigroup reduced their target price on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird cut their price objective on Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group cut their price objective on Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. TD Cowen lifted their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler cut their target price on Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.00.

Generac Stock Performance

Shares of Generac stock opened at $136.04 on Friday. Generac Holdings Inc. has a one year low of $109.90 and a one year high of $195.94. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.44 and a beta of 1.42. The business has a 50-day simple moving average of $151.41 and a 200 day simple moving average of $160.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. On average, research analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

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.