Meridian Management Co. Cuts Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Meridian Management Co. decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,600 shares of the technology company’s stock after selling 1,044 shares during the period. Generac comprises approximately 1.2% of Meridian Management Co.’s investment portfolio, making the stock its 23rd largest holding. Meridian Management Co. owned approximately 0.06% of Generac worth $4,443,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors raised its holdings in shares of Generac by 2.1% during the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after acquiring an additional 25,646 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Generac in the 2nd quarter valued at $98,282,000. Dimensional Fund Advisors LP lifted its holdings in Generac by 23.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 610,100 shares of the technology company’s stock valued at $78,854,000 after purchasing an additional 115,728 shares in the last quarter. Norges Bank purchased a new stake in shares of Generac during the fourth quarter worth $67,253,000. Finally, Ninety One UK Ltd raised its position in shares of Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after buying an additional 3,849 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the completion of the transaction, the chief executive officer now directly owns 577,177 shares in the company, valued at $76,989,640.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Generac Stock Performance

Shares of Generac stock opened at $140.53 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. The business has a 50-day moving average of $149.59 and a 200 day moving average of $138.46. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $169.57.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The firm had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 6.52 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on GNRC shares. Robert W. Baird upped their price objective on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Northland Securities upped their price target on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus reiterated a “buy” rating and set a $175.00 price objective (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. Piper Sandler upped their target price on Generac from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Janney Montgomery Scott lowered Generac from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $126.00 to $154.00 in a report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Generac currently has an average rating of “Hold” and an average target price of $154.71.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.