Oppenheimer & Co. Inc. Cuts Position in Generac Holdings Inc. (NYSE:GNRC)

Oppenheimer & Co. Inc. lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,774 shares of the technology company's stock after selling 9,404 shares during the period. Oppenheimer & Co. Inc. owned 0.07% of Generac worth $7,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GNRC. Texas Permanent School Fund Corp increased its stake in Generac by 2.3% during the first quarter. Texas Permanent School Fund Corp now owns 12,690 shares of the technology company's stock worth $1,601,000 after acquiring an additional 287 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Generac by 27.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,756 shares of the technology company's stock worth $474,000 after acquiring an additional 807 shares during the last quarter. ProShare Advisors LLC grew its holdings in Generac by 17.3% during the 1st quarter. ProShare Advisors LLC now owns 11,069 shares of the technology company's stock valued at $1,396,000 after purchasing an additional 1,635 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Generac in the first quarter worth about $233,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Generac by 16.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 75,317 shares of the technology company's stock worth $9,500,000 after acquiring an additional 10,420 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now directly owns 562,177 shares of the company's stock, valued at approximately $89,346,790.61. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction 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. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,268 shares of company stock worth $7,584,853. Company insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Northland Securities raised their price target on shares of Generac from $160.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Truist Financial raised their price objective on 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 increased their price target on Generac from $148.00 to $193.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. TD Cowen lifted their price objective on Generac from $172.00 to $183.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Generac from $160.00 to $178.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $169.10.

Generac Stock Performance

Shares of GNRC traded down $4.70 during trading hours on Thursday, reaching $186.34. 686,319 shares of the company traded hands, compared to its average volume of 955,363. The stock has a market capitalization of $11.09 billion, a P/E ratio of 38.67, a P/E/G ratio of 2.33 and a beta of 1.37. 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 business has a fifty day moving average price of $162.35 and a 200-day moving average price of $151.13. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94.

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