Patriot Financial Group Insurance Agency LLC Cuts Stake in Generac Holdings Inc. (NYSE:GNRC)

Patriot Financial Group Insurance Agency LLC lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 44.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,301 shares of the technology company’s stock after selling 1,026 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Generac were worth $202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its stake in shares of Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Modus Advisors LLC purchased a new stake in Generac in the fourth quarter worth $27,000. Versant Capital Management Inc raised its stake in shares of Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after buying an additional 145 shares during the period. Cranbrook Wealth Management LLC bought a new stake in shares of Generac in the fourth quarter valued at $28,000. Finally, Brooklyn Investment Group purchased a new position in shares of Generac during the 3rd quarter valued at $31,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of Generac stock opened at $148.01 on Thursday. The business’s 50-day moving average price is $166.18 and its 200-day moving average price is $161.49. The firm has a market capitalization of $8.81 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.60 and a beta of 1.42. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $1.64 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Generac Holdings Inc. will post 6.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GNRC shares. Piper Sandler boosted their price objective on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. TD Cowen upped their price target on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Roth Mkm boosted their target price on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird cut their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Citigroup decreased their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $174.30.

Insiders Place Their Bets

In other news, CFO York A. Ragen sold 29,081 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the sale, the chief financial officer now owns 135,613 shares of the company’s stock, valued at approximately $25,051,789.49. This represents a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock valued at $7,577,703 over the last three months. Insiders own 2.90% of the company’s stock.

Generac Profile

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.