Wellington Management Group LLP Reduces Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Wellington Management Group LLP lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 78.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,924 shares of the technology company's stock after selling 240,592 shares during the quarter. Wellington Management Group LLP owned approximately 0.11% of Generac worth $10,633,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Temasek Holdings Private Ltd bought a new stake in shares of Generac in the third quarter valued at $3,469,000. Southernsun Asset Management LLC bought a new stake in Generac in the 3rd quarter valued at about $6,557,000. Quantinno Capital Management LP purchased a new stake in Generac during the third quarter valued at about $354,000. Redwood Grove Capital LLC boosted its position in Generac by 17.3% during the third quarter. Redwood Grove Capital LLC now owns 141,438 shares of the technology company's stock worth $22,472,000 after purchasing an additional 20,856 shares during the period. Finally, Portolan Capital Management LLC bought a new stake in shares of Generac in the third quarter valued at approximately $7,026,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

Analyst Ratings Changes

GNRC has been the subject of several analyst reports. TD Cowen raised 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. Piper Sandler lifted their price target on Generac from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Generac from $160.00 to $178.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Citigroup lifted their target price on Generac from $128.00 to $172.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price target on Generac from $185.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Generac currently has a consensus rating of "Moderate Buy" and an average price target of $175.30.

Insiders Place Their Bets

In other Generac news, CFO York A. Ragen sold 29,081 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 135,613 shares of the company's stock, valued at approximately $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the 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 sale, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,268 shares of company stock worth $7,584,853. Company insiders own 2.90% of the company's stock.

Generac Trading Down 0.0 %

Shares of Generac stock traded down $0.08 during trading on Monday, reaching $167.17. The company's stock had a trading volume of 573,117 shares, compared to its average volume of 932,219. The firm's 50-day moving average is $177.48 and its two-hundred day moving average is $157.46. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 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 analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 6.84 earnings per share for the current 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.