abrdn plc Sells 12,467 Shares of Generac Holdings Inc. (NYSE:GNRC)

abrdn plc lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 589,342 shares of the technology company’s stock after selling 12,467 shares during the period. abrdn plc’s holdings in Generac were worth $244,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC acquired a new position in Generac in the 2nd quarter worth $276,000. Mercer Global Advisors Inc. ADV boosted its stake in Generac by 46.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,091 shares of the technology company’s stock worth $2,114,000 after purchasing an additional 1,607 shares during the period. Davidson Capital Management Inc. acquired a new position in Generac in the 2nd quarter worth $800,000. Principal Financial Group Inc. boosted its stake in Generac by 1.6% in the 2nd quarter. Principal Financial Group Inc. now owns 82,145 shares of the technology company’s stock worth $34,103,000 after purchasing an additional 1,313 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Generac by 62.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 20,409 shares of the technology company’s stock worth $8,473,000 after purchasing an additional 7,863 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

A number of equities analysts recently weighed in on GNRC shares. started coverage on shares of Generac in a research note on Friday, June 25th. They issued a “buy” rating and a $475.00 target price for the company. Zacks Investment Research downgraded shares of Generac from a “buy” rating to a “hold” rating and set a $448.00 price objective for the company. in a research note on Friday, July 9th. KeyCorp increased their price objective on shares of Generac from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, July 26th. Guggenheim assumed coverage on shares of Generac in a research note on Wednesday, June 2nd. They set a “buy” rating and a $420.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of Generac from $480.00 to $510.00 and gave the company an “overweight” rating in a research note on Tuesday, August 31st. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Generac has an average rating of “Buy” and an average target price of $434.50.

Generac stock traded up $6.39 during trading hours on Wednesday, hitting $439.93. The company had a trading volume of 8,165 shares, compared to its average volume of 815,511. The firm has a market cap of $27.77 billion, a PE ratio of 53.31, a PEG ratio of 6.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.02 and a quick ratio of 1.10. Generac Holdings Inc. has a one year low of $173.80 and a one year high of $466.92. The firm has a 50-day moving average of $428.41 and a 200 day moving average of $367.31.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 28th. The technology company reported $2.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.04. Generac had a net margin of 16.18% and a return on equity of 39.62%. The firm had revenue of $919.98 million for the quarter, compared to analysts’ expectations of $872.36 million. As a group, research analysts expect that Generac Holdings Inc. will post 10.06 earnings per share for the current year.

In other news, EVP Rajendra Kumar Kanuru sold 4,784 shares of the firm’s stock in a transaction that occurred on Friday, June 18th. The shares were sold at an average price of $385.00, for a total transaction of $1,841,840.00. Following the transaction, the executive vice president now directly owns 15,762 shares of the company’s stock, valued at $6,068,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick John Forsythe sold 3,537 shares of the firm’s stock in a transaction that occurred on Wednesday, June 23rd. The stock was sold at an average price of $400.00, for a total transaction of $1,414,800.00. Following the transaction, the insider now directly owns 16,089 shares in the company, valued at $6,435,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,987 shares of company stock worth $7,334,190. Company insiders own 2.80% of the company’s stock.

Generac Company Profile

Generac Holdings, Inc engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the United States.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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