Neuberger Berman Group LLC decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 29.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,938 shares of the technology company’s stock after selling 76,052 shares during the quarter. Neuberger Berman Group LLC’s holdings in Generac were worth $55,272,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Aldebaran Financial Inc. grew its stake in shares of Generac by 2.7% during the 4th quarter. Aldebaran Financial Inc. now owns 1,355 shares of the technology company’s stock worth $477,000 after purchasing an additional 35 shares during the period. Neville Rodie & Shaw Inc. grew its stake in shares of Generac by 2.2% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 1,620 shares of the technology company’s stock worth $488,000 after purchasing an additional 35 shares during the period. IAG Wealth Partners LLC grew its stake in shares of Generac by 40.0% during the 4th quarter. IAG Wealth Partners LLC now owns 140 shares of the technology company’s stock worth $49,000 after purchasing an additional 40 shares during the period. American National Bank grew its stake in shares of Generac by 59.2% during the 1st quarter. American National Bank now owns 121 shares of the technology company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, CapWealth Advisors LLC grew its stake in shares of Generac by 0.3% during the 1st quarter. CapWealth Advisors LLC now owns 17,938 shares of the technology company’s stock worth $5,332,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 90.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GNRC. TheStreet cut shares of Generac from a “b-” rating to a “c+” rating in a research note on Tuesday, July 12th. Truist Financial decreased their target price on Generac from $425.00 to $365.00 in a research report on Thursday, August 4th. Credit Suisse Group decreased their target price on Generac to $394.00 in a research report on Tuesday, August 9th. Robert W. Baird increased their target price on Generac from $250.00 to $275.00 in a research report on Thursday, August 4th. Finally, OTR Global lowered Generac from a “mixed” rating to a “negative” rating in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus target price of $414.86.
Generac Stock Down 4.1 %
Generac (NYSE:GNRC – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The technology company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. Generac had a return on equity of 29.42% and a net margin of 12.28%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the company earned $2.39 EPS. Sell-side analysts expect that Generac Holdings Inc. will post 11.9 EPS for the current year.
Insider Buying and Selling at Generac
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $264.96, for a total value of $1,324,800.00. Following the completion of the transaction, the chief executive officer now directly owns 610,975 shares of the company’s stock, valued at approximately $161,883,936. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.
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