Nomura Asset Management Co. Ltd. Decreases Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Nomura Asset Management Co. Ltd. lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 20.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,045 shares of the technology company’s stock after selling 261 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Generac were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Generac by 13.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,661 shares of the technology company’s stock valued at $748,000 after purchasing an additional 693 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Generac by 1.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,752 shares of the technology company’s stock valued at $2,612,000 after buying an additional 275 shares in the last quarter. Raymond James & Associates boosted its holdings in Generac by 11.3% in the 2nd quarter. Raymond James & Associates now owns 178,092 shares of the technology company’s stock worth $23,547,000 after buying an additional 18,097 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Generac by 5.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 99,149 shares of the technology company’s stock valued at $13,109,000 after buying an additional 5,043 shares in the last quarter. Finally, Carnegie Investment Counsel raised its holdings in Generac by 24.5% during the 2nd quarter. Carnegie Investment Counsel now owns 17,403 shares of the technology company’s stock valued at $2,301,000 after acquiring an additional 3,430 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

GNRC opened at $167.25 on Monday. The stock has a market capitalization of $9.95 billion, a P/E ratio of 34.70, a PEG ratio of 2.09 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 Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The stock has a 50-day moving average price of $177.48 and a 200-day moving average price of $157.46.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion for 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 earnings per share. Equities analysts predict that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 29,081 shares of the firm’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 directly owns 135,613 shares of the company’s stock, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares in the company, valued at approximately $89,346,790.61. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,268 shares of company stock valued at $7,584,853. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the subject of several recent research reports. Stifel Nicolaus lifted 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. Robert W. Baird reduced their target price on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Barclays initiated coverage on Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price target on the stock. Truist Financial boosted their price objective on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Roth Mkm increased their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.30.

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.