Fmr LLC Sells 472,787 Shares of Generac Holdings Inc. (NYSE:GNRC)

FMR LLC trimmed its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,745,186 shares of the technology company's stock after selling 472,787 shares during the period. FMR LLC owned approximately 2.93% of Generac worth $277,275,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GNRC. Sunbelt Securities Inc. increased its holdings in shares of Generac by 97.1% during the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. SouthState Corp acquired a new position in Generac during the third quarter worth $32,000. Capital Advisors Ltd. LLC raised its holdings in Generac by 611.1% during the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company's stock worth $34,000 after buying an additional 220 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Generac by 73.5% in the third quarter. Blue Trust Inc. now owns 229 shares of the technology company's stock valued at $36,000 after buying an additional 97 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Generac during the second quarter valued at about $38,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GNRC has been the topic of a number of recent research reports. Truist Financial raised their target price on Generac from $170.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Stephens reaffirmed an "overweight" rating and set a $200.00 price objective on shares of Generac in a report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Generac from $160.00 to $178.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. TD Cowen raised their price target on shares of Generac from $172.00 to $183.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Roth Mkm upped their price objective on shares of Generac from $160.00 to $175.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Generac has an average rating of "Moderate Buy" and a consensus price target of $174.58.

Insider Transactions at Generac

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This represents a 22.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock valued at $7,584,853 over the last three months. Company insiders own 2.90% of the company's stock.

Generac Stock Performance

Generac stock traded down $0.60 during midday trading on Monday, reaching $187.60. The stock had a trading volume of 196,139 shares, compared to its average volume of 938,243. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $11.16 billion, a PE ratio of 39.05, a P/E/G ratio of 2.31 and a beta of 1.37. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The firm's 50-day moving average price is $172.92 and its 200 day moving average price is $155.42.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the company posted $1.64 EPS. Generac's revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

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.