Ethic Inc. Sells 1,879 Shares of Generac Holdings Inc. $GNRC

Ethic Inc. lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 26.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,172 shares of the technology company’s stock after selling 1,879 shares during the quarter. Ethic Inc.’s holdings in Generac were worth $705,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Securities EMEA plc bought a new position in Generac during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Generac during the 3rd quarter valued at about $26,000. First Horizon Corp bought a new position in Generac during the 3rd quarter valued at about $28,000. Sentry Investment Management LLC lifted its stake in Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after acquiring an additional 67 shares during the period. Finally, Quent Capital LLC bought a new position in Generac during the 3rd quarter valued at about $41,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Generac in a research note on Friday, March 20th. They set a “hold” rating and a $222.00 target price on the stock. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Bank of America lowered their price objective on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, Guggenheim reiterated a “neutral” rating and issued a $202.00 price objective on shares of Generac in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average target price of $270.31.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Generac Price Performance

Shares of NYSE:GNRC opened at $276.41 on Friday. The firm’s 50 day moving average price is $217.77 and its 200-day moving average price is $186.13. Generac Holdings Inc. has a twelve month low of $118.09 and a twelve month high of $276.80. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $16.27 billion, a PE ratio of 86.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.93.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm 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 quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 EPS. Equities research analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current 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.