Panagora Asset Management Inc. Sells 382,804 Shares of Generac Holdings Inc. $GNRC

Panagora Asset Management Inc. lowered its stake in Generac Holdings Inc. (NYSE:GNRC) by 97.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,237 shares of the technology company’s stock after selling 382,804 shares during the quarter. Panagora Asset Management Inc.’s holdings in Generac were worth $1,609,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GNRC. MassMutual Private Wealth & Trust FSB increased its position in Generac by 81.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock worth $25,000 after purchasing an additional 77 shares in the last quarter. Creative Capital Management Investments LLC increased its holdings in shares of Generac by 740.7% during the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock worth $33,000 after buying an additional 200 shares in the last quarter. Legend Financial Advisors Inc. bought a new position in shares of Generac in the 2nd quarter valued at $36,000. Colonial Trust Advisors boosted its holdings in shares of Generac by 357.1% during the 1st quarter. Colonial Trust Advisors now owns 320 shares of the technology company’s stock valued at $41,000 after acquiring an additional 250 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new stake in Generac during the 2nd quarter worth $44,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’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 transaction, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GNRC shares. Needham & Company LLC started coverage on Generac in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $248.00 target price for the company. Citigroup reduced their target price on shares of Generac from $217.00 to $207.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Zacks Research upgraded shares of Generac from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a report on Wednesday, October 8th. Finally, Barclays boosted their price objective on shares of Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average target price of $191.06.

Generac Stock Up 2.6%

GNRC stock opened at $163.24 on Friday. The stock’s 50 day simple moving average is $165.74 and its 200 day simple moving average is $161.96. The company has a market cap of $9.58 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.18. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25.

Generac (NYSE:GNRC) last released its quarterly earnings data 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 net margin of 6.92% and a return on equity of 17.63%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. On average, research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal 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.