Generac Holdings Inc. (NYSE:GNRC) Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 819.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,254 shares of the technology company’s stock after purchasing an additional 163,323 shares during the period. Allspring Global Investments Holdings LLC owned about 0.31% of Generac worth $28,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Modus Advisors LLC bought a new stake in shares of Generac during the 4th quarter valued at about $27,000. Cranbrook Wealth Management LLC bought a new position in shares of Generac during the fourth quarter valued at approximately $28,000. Versant Capital Management Inc raised its position in shares of 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. Brooklyn Investment Group bought a new stake in shares of Generac in the 3rd quarter worth approximately $31,000. Finally, SouthState Corp acquired a new position in Generac during the 3rd quarter valued at approximately $32,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.90% of the company’s stock.

Generac Trading Down 0.0 %

Generac stock opened at $146.80 on Friday. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. Generac Holdings Inc. has a 1 year low of $108.89 and a 1 year high of $195.94. The firm’s 50 day moving average price is $156.31 and its two-hundred day moving average price is $160.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%. On average, research analysts predict that Generac Holdings Inc. will post 6.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GNRC. Truist Financial cut their target price on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus cut their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday. UBS Group lifted their price target on Generac from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday. Finally, Robert W. Baird decreased their price objective on Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.00.

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.