Chevy Chase Trust Holdings LLC Cuts Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,257 shares of the technology company’s stock after selling 836 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Generac worth $5,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GNRC. William Blair Investment Management LLC purchased a new stake in shares of Generac during the second quarter worth $98,282,000. The Manufacturers Life Insurance Company lifted its stake in Generac by 114.8% in the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after acquiring an additional 299,205 shares during the last quarter. Jennison Associates LLC acquired a new position in Generac during the 3rd quarter worth approximately $45,722,000. International Assets Investment Management LLC increased its position 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 purchasing an additional 266,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after purchasing an additional 167,641 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GNRC shares. Stifel Nicolaus increased their target price on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Roth Mkm increased their price objective on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. The Goldman Sachs Group increased their price target on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Truist Financial boosted their price objective 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 investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.30.

Generac Price Performance

Shares of NYSE GNRC opened at $180.00 on Friday. The stock has a fifty day moving average price of $175.72 and a 200 day moving average price of $156.38. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The company has a market cap of $10.71 billion, a PE ratio of 37.34, a P/E/G ratio of 2.29 and a beta of 1.39.

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

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the sale, the chief executive officer now owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,268 shares of company stock worth $7,584,853. Company insiders own 2.90% of the company’s stock.

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.