Wellington Management Group LLP Lowers Holdings in Generac Holdings Inc. (NYSE:GNRC)

Wellington Management Group LLP reduced its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 84.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,158 shares of the technology company’s stock after selling 56,766 shares during the period. Wellington Management Group LLP’s holdings in Generac were worth $1,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Modus Advisors LLC purchased a new stake in shares of Generac during the fourth quarter worth $27,000. Versant Capital Management Inc increased its holdings in Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after purchasing an additional 145 shares during the period. Cranbrook Wealth Management LLC acquired a new stake in Generac in the 4th quarter valued at about $28,000. Bank of Jackson Hole Trust acquired a new position in shares of Generac during the fourth quarter worth about $31,000. Finally, Spire Wealth Management increased its stake in shares of Generac by 203.6% during the fourth quarter. Spire Wealth Management now owns 252 shares of the technology company’s stock worth $39,000 after buying an additional 169 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GNRC. Citigroup dropped their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Bank of America started coverage on Generac in a research report on Monday, March 24th. They set a “buy” rating and a $182.00 price objective for the company. Piper Sandler decreased their target price on Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price target on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial cut their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.60.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the sale, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. 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. Company insiders own 2.90% of the company’s stock.

Generac Stock Up 1.6 %

Generac stock opened at $110.15 on Friday. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.44 and a beta of 1.58. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $131.34 and a two-hundred day moving average of $155.14. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $195.94.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, research analysts expect that Generac Holdings Inc. will post 8 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.