Generac Holdings Inc. $GNRC Shares Sold by Redwood Grove Capital LLC

Redwood Grove Capital LLC reduced its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 39.4% during the 1st quarter, HoldingsChannel reports. The firm owned 49,280 shares of the technology company’s stock after selling 32,100 shares during the period. Generac accounts for approximately 3.1% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 18th biggest holding. Redwood Grove Capital LLC’s holdings in Generac were worth $9,626,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC increased its position in Generac by 2.4% in the 1st quarter. Empowered Funds LLC now owns 22,627 shares of the technology company’s stock valued at $4,420,000 after acquiring an additional 536 shares during the period. Maverick Capital Ltd. acquired a new stake in Generac during the 1st quarter worth approximately $1,267,000. Quantinno Capital Management LP lifted its position in Generac by 19.1% during the 1st quarter. Quantinno Capital Management LP now owns 28,774 shares of the technology company’s stock worth $5,620,000 after acquiring an additional 4,613 shares during the period. Jessup Wealth Management Inc purchased a new position in shares of Generac in the 1st quarter valued at approximately $489,000. Finally, JCP Investment Management LLC increased its holdings in shares of Generac by 75.0% in the first quarter. JCP Investment Management LLC now owns 38,510 shares of the technology company’s stock valued at $7,522,000 after purchasing an additional 16,510 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,100 shares of company stock worth $1,651,443 over the last 90 days. Insiders own 2.40% of the company’s stock.

Generac Stock Down 1.5%

GNRC opened at $194.52 on Wednesday. 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 12 month low of $134.80 and a 12 month high of $296.44. The stock has a market capitalization of $11.45 billion, a P/E ratio of 60.98, a P/E/G ratio of 1.85 and a beta of 1.89. The business has a 50 day simple moving average of $254.18 and a 200-day simple moving average of $223.96.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on GNRC. Barclays upped their price target on Generac from $228.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Raymond James Financial set a $302.00 price objective on shares of Generac in a research report on Friday, May 22nd. Canaccord Genuity Group raised their target price on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. TD Cowen reaffirmed a “buy” rating on shares of Generac in a report on Monday, July 20th. Finally, Cantor Fitzgerald assumed coverage on shares of Generac in a report on Wednesday, July 22nd. They issued an “overweight” rating and a $325.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $286.44.

Generac Profile

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.