Atlantic Union Bankshares Corp Lowers Stake in Generac Holdings Inc. $GNRC

Atlantic Union Bankshares Corp lowered its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 59.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,614 shares of the technology company’s stock after selling 5,290 shares during the period. Atlantic Union Bankshares Corp’s holdings in Generac were worth $493,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac in the third quarter worth $26,000. Sentry Investment Management LLC lifted its holdings in shares of Generac by 69.8% in 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 in the last quarter. First Horizon Corp purchased a new position in shares of Generac in the third quarter worth $28,000. MUFG Securities EMEA plc purchased a new position in shares of Generac in the second quarter worth $25,000. Finally, Quent Capital LLC bought a new stake in Generac in the third quarter worth $41,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GNRC. Roth Mkm restated a “neutral” rating and issued a $257.00 price target on shares of Generac in a research report on Thursday, April 30th. UBS Group boosted their price objective on shares of Generac from $270.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group initiated coverage on shares of Generac in a research report on Friday, March 20th. They set a “hold” rating and a $222.00 price objective on the stock. TD Cowen boosted their price objective on shares of Generac from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Guggenheim reiterated a “neutral” rating and set a $202.00 price objective on shares of Generac in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.31.

Insider Activity at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Generac Stock Down 4.4%

NYSE:GNRC opened at $264.31 on Friday. Generac Holdings Inc. has a 1-year low of $118.09 and a 1-year high of $276.80. The company has a 50-day moving average of $218.65 and a 200 day moving average of $186.67. The firm has a market cap of $15.56 billion, a PE ratio of 82.86, a price-to-earnings-growth ratio of 2.59 and a beta of 1.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. As a group, research analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

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.