Generac Holdings Inc. $GNRC Holdings Cut by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 37.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,535 shares of the technology company’s stock after selling 15,427 shares during the quarter. Wellington Management Group LLP’s holdings in Generac were worth $7,477,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Callan Family Office LLC acquired a new stake in shares of Generac in the 2nd quarter worth about $3,033,000. Hsbc Holdings PLC boosted its stake in Generac by 42.8% during the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after purchasing an additional 27,893 shares during the period. Virtu Financial LLC grew its position in Generac by 89.2% in the 4th quarter. Virtu Financial LLC now owns 30,377 shares of the technology company’s stock worth $4,143,000 after purchasing an additional 14,321 shares during the last quarter. Patton Fund Management Inc. acquired a new stake in shares of Generac in the first quarter valued at approximately $3,797,000. Finally, Maverick Capital Ltd. bought a new stake in shares of Generac during the first quarter valued at approximately $1,267,000. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of NYSE GNRC opened at $190.28 on Wednesday. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $212.14 and a two-hundred day moving average of $228.87. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.60 and a beta of 1.91.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $1.65 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts expect that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In related news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total value of $974,450.00. Following the sale, the chief executive officer directly owned 554,528 shares in the company, valued at $108,071,961.92. This trade represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 11,686 shares of company stock valued at $2,271,680. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the topic of several analyst reports. Zacks Research upgraded Generac from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. DA Davidson set a $333.00 price objective on shares of Generac in a research note on Thursday, July 30th. Barclays decreased their target price on shares of Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Roth Capital set a $214.00 price target on shares of Generac in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group decreased their price objective on shares of Generac from $325.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $284.84.

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.