Everence Capital Management Inc. Sells 3,790 Shares of Generac Holdings Inc. (NYSE:GNRC)

Everence Capital Management Inc. lowered its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 70.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,590 shares of the technology company's stock after selling 3,790 shares during the period. Everence Capital Management Inc.'s holdings in Generac were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GNRC. Sunbelt Securities Inc. boosted its holdings in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Generac in the 4th quarter worth $27,000. Versant Capital Management Inc boosted its stake in shares of Generac by 391.9% in 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 last quarter. Brooklyn Investment Group bought a new stake in shares of Generac in the third quarter worth $31,000. Finally, SouthState Corp purchased a new stake in Generac during the third quarter valued at $32,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler raised their target price on Generac from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Truist Financial raised their price objective on shares of Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on shares of Generac from $148.00 to $193.00 and gave the company a "buy" rating in a report on Friday, November 1st. StockNews.com upgraded shares of Generac from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Finally, Robert W. Baird reduced their price objective on Generac from $187.00 to $181.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and an average price target of $174.80.

Generac Price Performance

Shares of Generac stock traded down $2.24 on Thursday, hitting $158.76. 726,848 shares of the company traded hands, compared to its average volume of 662,149. Generac Holdings Inc. has a 52 week low of $108.89 and a 52 week high of $195.94. The business has a 50-day simple moving average of $173.48 and a 200 day simple moving average of $159.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The stock has a market capitalization of $9.45 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 2.04 and a beta of 1.42.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business's revenue was up 9.6% on a year-over-year basis. Research analysts expect that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CFO York A. Ragen sold 29,081 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the completion of the sale, the chief executive officer now owns 570,825 shares in the company, valued at approximately $89,904,937.50. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,577,703 in the last quarter. 2.90% of the stock is owned by corporate insiders.

About Generac

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.