Generac Holdings Inc. $GNRC Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 33.3% in the 3rd quarter, Holdings Channel reports. The firm owned 5,283 shares of the technology company’s stock after selling 2,633 shares during the period. Rafferty Asset Management LLC’s holdings in Generac were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of GNRC. Wilmington Savings Fund Society FSB increased its stake in Generac by 21.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 331 shares of the technology company’s stock valued at $55,000 after purchasing an additional 59 shares during the period. Sentry Investment Management LLC boosted its stake in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares during the period. Beacon Investment Advisors LLC boosted its stake in shares of Generac by 0.3% during the second quarter. Beacon Investment Advisors LLC now owns 26,226 shares of the technology company’s stock worth $3,735,000 after buying an additional 70 shares during the period. ORG Partners LLC grew its holdings in shares of Generac by 24.7% during the third quarter. ORG Partners LLC now owns 369 shares of the technology company’s stock worth $62,000 after buying an additional 73 shares during the last quarter. Finally, Argent Trust Co grew its holdings in shares of Generac by 2.3% during the third quarter. Argent Trust Co now owns 3,272 shares of the technology company’s stock worth $548,000 after buying an additional 73 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of GNRC opened at $204.18 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $184.27 and its two-hundred day moving average is $174.01. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $241.09. The firm has a market capitalization of $11.98 billion, a PE ratio of 76.19, a P/E/G ratio of 1.59 and a beta of 1.74.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The business’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period last year, the company posted $2.80 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the transaction, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. TD Cowen upped their price objective on Generac from $220.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wells Fargo & Company lifted their target price on Generac from $185.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. UBS Group restated a “buy” rating and set a $270.00 price target on shares of Generac in a research note on Friday, February 13th. Guggenheim reaffirmed a “neutral” rating and set a $202.00 price target on shares of Generac in a report on Tuesday, February 10th. Finally, Stifel Nicolaus set a $235.00 price objective on shares of Generac in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $220.19.

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.