Southernsun Asset Management LLC Takes $6.56 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Southernsun Asset Management LLC acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 41,267 shares of the technology company's stock, valued at approximately $6,557,000. Generac accounts for 0.8% of Southernsun Asset Management LLC's portfolio, making the stock its 23rd biggest position. Southernsun Asset Management LLC owned approximately 0.07% of Generac as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in shares of Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock valued at $27,000 after buying an additional 100 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Generac in the 3rd quarter valued at about $31,000. SouthState Corp acquired a new stake in Generac in the 3rd quarter valued at about $32,000. Capital Advisors Ltd. LLC raised its stake in shares of Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company's stock worth $34,000 after acquiring an additional 220 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company's stock worth $36,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Stock Down 0.5 %

Shares of GNRC stock traded down $0.98 on Friday, hitting $179.00. 153,616 shares of the stock were exchanged, compared to its average volume of 933,435. The business has a 50-day moving average of $175.72 and a 200 day moving average of $156.38. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The firm has a market capitalization of $10.65 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 2.29 and a beta of 1.39. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

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

Insiders Place Their Bets

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,268 shares of company stock valued at $7,584,853 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GNRC has been the subject of several research analyst reports. Robert W. Baird dropped their price objective on shares of Generac from $187.00 to $181.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Piper Sandler upped their price target on Generac from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Barclays assumed coverage on Generac in a research report on Wednesday. They issued an "equal weight" rating and a $189.00 price objective for the company. Stifel Nicolaus upped their target price 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 price target on shares of 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, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $175.30.

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.