Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lessened its stake in Generac Holdings Inc. (NYSE:GNRC) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,420 shares of the technology company’s stock after selling 1,277 shares during the period. Moran Wealth Management LLC’s holdings in Generac were worth $3,093,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GNRC. Nebula Research & Development LLC acquired a new position in Generac during the 4th quarter worth $3,638,000. Pinebridge Investments L.P. lifted its position in shares of Generac by 28.1% during the fourth quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company’s stock worth $10,697,000 after purchasing an additional 15,147 shares during the last quarter. Evercore Wealth Management LLC lifted its position in shares of Generac by 4.3% during the fourth quarter. Evercore Wealth Management LLC now owns 430,068 shares of the technology company’s stock worth $66,682,000 after purchasing an additional 17,711 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Generac by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,986 shares of the technology company’s stock worth $86,516,000 after purchasing an additional 2,015 shares in the last quarter. Finally, Scholtz & Company LLC bought a new stake in Generac in the fourth quarter valued at about $1,836,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GNRC has been the topic of several research reports. Guggenheim upgraded Generac from a “sell” rating to a “neutral” rating in a research note on Monday, March 17th. Canaccord Genuity Group lowered their price target on Generac from $200.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Piper Sandler reduced their price objective on Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Bank of America assumed coverage on shares of Generac in a report on Monday, March 24th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on shares of Generac from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.17.

Generac Stock Up 2.6%

Generac stock opened at $139.51 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94. The company has a 50-day simple moving average of $122.66 and a 200-day simple moving average of $135.81. The firm has a market capitalization of $8.24 billion, a P/E ratio of 24.30, a P/E/G ratio of 1.23 and a beta of 1.70.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a net margin of 7.68% and a return on equity of 18.90%. The firm had revenue of $942.12 million during the quarter, compared to analysts’ expectations of $921.78 million. During the same quarter in the prior year, the firm earned $0.88 EPS. Generac’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current year.

Generac 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.