Assenagon Asset Management S.A. Lowers Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Assenagon Asset Management S.A. lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 50.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,200 shares of the technology company's stock after selling 8,283 shares during the period. Assenagon Asset Management S.A.'s holdings in Generac were worth $1,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNRC. Duncker Streett & Co. Inc. increased its stake in Generac by 2.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company's stock valued at $388,000 after acquiring an additional 68 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Generac by 4.5% in the 1st quarter. Empirical Finance LLC now owns 1,748 shares of the technology company's stock valued at $220,000 after purchasing an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Generac by 0.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company's stock worth $2,981,000 after buying an additional 75 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Generac by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company's stock worth $27,000 after buying an additional 90 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in Generac by 6.5% in the third quarter. Mather Group LLC. now owns 1,528 shares of the technology company's stock valued at $243,000 after buying an additional 93 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. This trade represents a 0.00 % 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. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GNRC. Robert W. Baird cut their target price on shares of Generac from $187.00 to $181.00 and set a "neutral" rating on the stock in a research report on Friday. StockNews.com raised Generac from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Canaccord Genuity Group upped their target price on Generac from $177.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Stephens reissued an "overweight" rating and set a $200.00 price target on shares of Generac in a research note on Monday, August 5th. Finally, Piper Sandler upped their price objective on Generac from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $169.10.

Generac Stock Up 2.0 %

NYSE GNRC traded up $3.36 during trading hours on Friday, hitting $168.91. The company's stock had a trading volume of 1,045,469 shares, compared to its average volume of 951,695. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The company's 50-day simple moving average is $157.17 and its two-hundred day simple moving average is $148.17. The company has a market capitalization of $10.16 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Generac Holdings Inc. has a 52 week low of $98.27 and a 52 week high of $176.14.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (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 return on equity of 15.35% and a net margin of 6.03%. Generac's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 6.49 EPS for the current fiscal year.

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.