Truist Financial Corp Sells 2,820 Shares of Generac Holdings Inc. $GNRC

Truist Financial Corp cut its stake in Generac Holdings Inc. (NYSE:GNRC) by 15.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,921 shares of the technology company’s stock after selling 2,820 shares during the period. Truist Financial Corp’s holdings in Generac were worth $2,035,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its holdings in Generac by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after acquiring an additional 16,229 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Generac during the third quarter valued at $70,744,000. Strs Ohio boosted its position in Generac by 583.4% during the third quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock valued at $9,725,000 after acquiring an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Generac by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock valued at $100,031,000 after acquiring an additional 15,280 shares during the last quarter. Finally, Private Advisory Group LLC boosted its position in Generac by 26.2% during the fourth quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company’s stock valued at $8,016,000 after acquiring an additional 12,191 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GNRC. Citigroup upped their price target on shares of Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Jefferies Financial Group initiated coverage on shares of Generac in a research report on Friday, March 20th. They set a “hold” rating and a $222.00 price target on the stock. Argus increased their price target on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Roth Mkm restated a “neutral” rating and set a $257.00 price target on shares of Generac in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $275.00 price target on Generac in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $270.31.

Generac Price Performance

GNRC stock opened at $267.02 on Thursday. The stock has a market capitalization of $15.72 billion, a PE ratio of 83.71, a price-to-earnings-growth ratio of 2.52 and a beta of 1.93. The company’s 50-day moving average is $216.67 and its 200-day moving average is $185.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. Generac Holdings Inc. has a 1 year low of $118.09 and a 1 year high of $273.57.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. Equities research analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

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.