Toronto Dominion Bank Sells 8,105 Shares of Generac Holdings Inc. (NYSE:GNRC)

Toronto Dominion Bank reduced its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 34.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,109 shares of the technology company's stock after selling 8,105 shares during the quarter. Toronto Dominion Bank's holdings in Generac were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GNRC. William Blair Investment Management LLC purchased a new stake in Generac during the second quarter valued at about $98,282,000. Dimensional Fund Advisors LP lifted its holdings in Generac by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company's stock worth $92,941,000 after purchasing an additional 35,026 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Generac by 114.8% in the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock valued at $88,944,000 after acquiring an additional 299,205 shares during the period. Blair William & Co. IL grew its position in shares of Generac by 29.2% during the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company's stock valued at $60,487,000 after purchasing an additional 103,439 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in Generac by 1.7% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 422,628 shares of the technology company's stock worth $55,880,000 after acquiring an additional 7,045 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the sale, the chief executive officer now directly owns 557,177 shares of the company's stock, valued at $92,825,688.20. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 17.66 % decrease in their ownership of the stock. 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. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GNRC. Robert W. Baird decreased their price target on shares of Generac from $187.00 to $181.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Citigroup lifted their price target on shares of Generac from $128.00 to $172.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Roth Mkm boosted their price objective on shares of Generac from $160.00 to $175.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. TD Cowen increased their target price on shares of Generac from $172.00 to $183.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price target on shares of Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Generac currently has an average rating of "Moderate Buy" and an average target price of $175.30.

Generac Stock Performance

NYSE:GNRC traded down $0.08 on Monday, hitting $167.17. The stock had a trading volume of 573,117 shares, compared to its average volume of 932,219. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.09 and a beta of 1.39. 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's 50-day simple moving average is $177.48 and its two-hundred day simple moving average is $157.46.

Generac (NYSE:GNRC - Get Free Report) last released 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 business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. As a group, research analysts predict that Generac Holdings Inc. will post 6.84 earnings per share for the current 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.