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

ProShare Advisors LLC decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 49.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Generac in the 2nd quarter valued at about $1,170,960,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Generac by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock valued at $202,849,000 after buying an additional 86,863 shares during the last quarter. Bank of America Corp DE raised its stake in Generac by 19.7% during the 1st quarter. Bank of America Corp DE now owns 742,576 shares of the technology company’s stock valued at $145,047,000 after acquiring an additional 122,101 shares in the last quarter. Park Presidio Capital LLC bought a new position in shares of Generac in the second quarter worth $158,140,000. Finally, Jennison Associates LLC raised its stake in shares of Generac by 1.0% during the first quarter. Jennison Associates LLC now owns 520,628 shares of the technology company’s stock valued at $101,694,000 after purchasing an additional 4,985 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In other Generac news, insider Kyle Raabe sold 603 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $212.57, for a total value of $128,179.71. Following the sale, the insider owned 9,966 shares in the company, valued at approximately $2,118,472.62. The trade was a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the completion of the sale, the chief executive officer owned 544,528 shares in the company, valued at $112,172,768. The trade was a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 12,606 shares of company stock worth $2,491,310. Company insiders own 2.40% of the company’s stock.

Generac Trading Up 2.2%

Generac stock traded up $3.80 during midday trading on Friday, hitting $176.13. 1,270,304 shares of the stock were exchanged, compared to its average volume of 1,179,782. The stock has a market capitalization of $10.39 billion, a PE ratio of 34.88, a P/E/G ratio of 1.72 and a beta of 1.86. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The company has a quick ratio of 1.06, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $197.79 and a two-hundred day simple moving average of $218.22.

Generac (NYSE:GNRC) last posted its earnings results 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. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. The company’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 earnings per share. Equities research analysts anticipate that Generac Holdings Inc. will post 9.84 EPS for the current fiscal year.

Analysts Set New Price Targets

GNRC has been the topic of a number of research reports. TD Cowen upgraded shares of Generac to a “strong-buy” rating in a report on Monday, October 5th. Wall Street Zen raised Generac from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Wells Fargo & Company set a $280.00 target price on Generac in a report on Thursday, September 17th. Zacks Research cut shares of Generac from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Generac from $290.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $290.41.

Generac 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.