Picton Mahoney Asset Management Sells 23,729 Shares of Generac Holdings Inc. (NYSE:GNRC)

Picton Mahoney Asset Management cut its stake in Generac Holdings Inc. (NYSE:GNRC) by 32.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,396 shares of the technology company’s stock after selling 23,729 shares during the period. Picton Mahoney Asset Management owned 0.08% of Generac worth $7,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Modus Advisors LLC acquired a new stake in shares of Generac during the 4th quarter worth approximately $27,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Generac during the 4th quarter worth approximately $28,000. Versant Capital Management Inc grew its position in shares of Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after buying an additional 145 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Generac during the 3rd quarter worth approximately $31,000. Finally, SouthState Corp acquired a new stake in shares of Generac during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares in the company, valued at $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GNRC shares. Wells Fargo & Company decreased their price objective on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Piper Sandler decreased their price objective on shares of Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird decreased their price objective on shares of Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Citigroup decreased their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $174.00.

Generac Stock Performance

NYSE GNRC opened at $130.41 on Friday. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average price is $146.05 and its two-hundred day moving average price is $158.77. Generac Holdings Inc. has a 1 year low of $110.35 and a 1 year high of $195.94. The firm has a market capitalization of $7.77 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

Generac Company 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.