Generac Holdings Inc. (NYSE:GNRC) Position Boosted by Glenmede Trust Co. NA

Glenmede Trust Co. NA increased its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 54.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,984 shares of the technology company's stock after acquiring an additional 4,209 shares during the period. Glenmede Trust Co. NA's holdings in Generac were worth $1,904,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC acquired a new position in Generac in the 2nd quarter valued at $98,282,000. The Manufacturers Life Insurance Company raised its holdings in shares of Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock worth $88,944,000 after purchasing an additional 299,205 shares during the period. Jennison Associates LLC purchased a new position in Generac in the third quarter valued at approximately $45,722,000. International Assets Investment Management LLC raised its stake in shares of Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company's stock valued at $42,433,000 after acquiring an additional 266,026 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Generac by 678.5% during the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company's stock worth $30,560,000 after purchasing an additional 167,641 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 $89,346,790.61. This represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction on 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 sale, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Analysts Set New Price Targets

Several research firms recently commented on GNRC. JPMorgan Chase & Co. boosted 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. Stephens reaffirmed an "overweight" rating and set a $200.00 price target on shares of Generac in a report on Monday, August 5th. TD Cowen boosted their price objective on shares of Generac from $172.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Stifel Nicolaus upped their price objective on shares of Generac from $185.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Finally, Truist Financial lifted their target price on Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. One equities 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $174.58.

Generac Stock Performance

Shares of NYSE GNRC traded down $0.75 during midday trading on Monday, hitting $187.45. The company's stock had a trading volume of 431,420 shares, compared to its average volume of 939,304. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The firm's fifty day moving average price is $172.92 and its 200-day moving average price is $155.42. The firm has a market cap of $11.15 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.31 and a beta of 1.37.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. On average, sell-side analysts forecast 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.