Citigroup Inc. Has $9.88 Million Stake in Generac Holdings Inc. (NYSE:GNRC)

Citigroup Inc. decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,165 shares of the technology company's stock after selling 9,479 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Generac worth $9,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its stake in Generac by 52.8% in the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company's stock valued at $541,000 after buying an additional 1,177 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Generac by 61.2% in the third quarter. First Horizon Advisors Inc. now owns 545 shares of the technology company's stock valued at $87,000 after buying an additional 207 shares during the period. Advisors Asset Management Inc. increased its position in shares of Generac by 10.3% during the third quarter. Advisors Asset Management Inc. now owns 6,667 shares of the technology company's stock worth $1,059,000 after acquiring an additional 625 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Generac during the third quarter worth $3,300,000. Finally, Jennison Associates LLC bought a new stake in Generac in the 3rd quarter valued at $45,722,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the sale, the chief financial officer now owns 135,613 shares of the company's stock, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,268 shares of company stock worth $7,584,853. Company insiders own 2.90% of the company's stock.

Generac Stock Performance

GNRC stock traded down $2.20 during midday trading on Friday, reaching $188.20. 309,723 shares of the company were exchanged, compared to its average volume of 941,503. Generac Holdings Inc. has a one year low of $108.89 and a one year high of $195.94. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 2.33 and a beta of 1.37. The business has a 50-day moving average price of $172.92 and a two-hundred day moving average price of $155.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. Equities research analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on GNRC shares. The Goldman Sachs Group lifted their price target on Generac from $148.00 to $193.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on Generac from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Generac from $160.00 to $178.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. TD Cowen increased their target price on shares of Generac from $172.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Generac from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $174.58.

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.