Evercore Wealth Management LLC Cuts Holdings in Generac Holdings Inc. $GNRC

Evercore Wealth Management LLC lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 386,149 shares of the technology company’s stock after selling 8,866 shares during the quarter. Generac accounts for 1.2% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position. Evercore Wealth Management LLC owned 0.66% of Generac worth $75,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. Nicollet Investment Management Inc. raised its holdings in shares of Generac by 0.7% in the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 50 shares during the period. Root Financial Partners LLC grew its holdings in shares of Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 54 shares during the period. Gen Wealth Partners Inc increased its position in Generac by 8.7% during the 4th quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock worth $92,000 after purchasing an additional 54 shares in the last quarter. Meridian Financial Partners LLC increased its position in Generac by 0.6% during the 4th quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 61 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Generac by 2.7% in the third quarter. NewEdge Advisors LLC now owns 2,749 shares of the technology company’s stock valued at $460,000 after buying an additional 73 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Performance

Generac stock opened at $197.06 on Tuesday. The firm has a market capitalization of $11.60 billion, a PE ratio of 61.78, a price-to-earnings-growth ratio of 1.89 and a beta of 1.89. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The stock’s 50 day moving average price is $255.16 and its 200 day moving average price is $223.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Argus lifted their price target on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Wells Fargo & Company raised their target price on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Stifel Nicolaus set a $275.00 target price on shares of Generac in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.44.

Insider Buying and Selling at Generac

In other news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the transaction, the insider directly owned 15,808 shares in the company, valued at approximately $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. The trade was a 0.88% 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. Insiders sold 6,100 shares of company stock valued at $1,651,443 over the last 90 days. Insiders own 2.40% of the company’s stock.

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.