Generac Holdings Inc. $GNRC Shares Sold by Meridian Management Co.

Meridian Management Co. lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 23.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,520 shares of the technology company’s stock after selling 8,023 shares during the quarter. Generac comprises about 1.2% of Meridian Management Co.’s holdings, making the stock its 29th largest position. Meridian Management Co.’s holdings in Generac were worth $4,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Gagnon Securities LLC increased its position in Generac by 13.7% during the third quarter. Gagnon Securities LLC now owns 77,561 shares of the technology company’s stock worth $12,984,000 after purchasing an additional 9,372 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Generac during the 3rd quarter worth $55,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Generac by 4.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,590 shares of the technology company’s stock worth $936,000 after buying an additional 241 shares during the period. James Investment Research Inc. boosted its holdings in Generac by 15.9% in the third quarter. James Investment Research Inc. now owns 9,126 shares of the technology company’s stock valued at $1,528,000 after acquiring an additional 1,252 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Generac by 115.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 46,868 shares of the technology company’s stock valued at $7,846,000 after acquiring an additional 25,103 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on GNRC. Roth Mkm set a $184.00 price objective on Generac and gave the company a “neutral” rating in a research note on Thursday, October 30th. Bank of America cut their price target on shares of Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Wells Fargo & Company set a $195.00 price objective on shares of Generac in a research note on Friday, December 19th. Canaccord Genuity Group cut their target price on shares of Generac from $240.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price target for the company in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.29.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total value of $832,150.00. Following the sale, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at $90,365,831.38. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Generac Stock Performance

Generac stock opened at $169.94 on Friday. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $203.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.18 and a quick ratio of 1.02. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.82. The firm’s fifty day moving average price is $153.71 and its 200 day moving average price is $167.72.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). Generac had a return on equity of 17.63% and a net margin of 6.92%.The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm posted $2.25 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. On average, research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company Profile

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.