Arrowstreet Capital Limited Partnership Grows Position in Generac Holdings Inc. (NYSE:GNRC)

Arrowstreet Capital Limited Partnership grew its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 81.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,042,785 shares of the technology company’s stock after purchasing an additional 469,575 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Generac were worth $161,684,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GNRC. Nordea Investment Management AB acquired a new position in shares of Generac in the fourth quarter worth about $5,229,000. Global Financial Private Client LLC purchased a new position in shares of Generac in the 4th quarter valued at about $614,000. Franklin Resources Inc. raised its holdings in Generac by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock worth $4,998,000 after purchasing an additional 14,811 shares during the period. Glenmede Trust Co. NA raised its holdings in Generac by 54.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 4,209 shares during the period. Finally, Barclays PLC boosted its position in Generac by 41.4% during the third quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock worth $29,425,000 after purchasing an additional 54,202 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GNRC shares. Truist Financial reduced their target price on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group decreased their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. UBS Group boosted their target price on shares of Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Robert W. Baird decreased their price target on shares of Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus cut their price objective on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.38.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now owns 565,825 shares of the company’s stock, valued at $82,129,498.75. This represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by company insiders.

Generac Trading Down 3.0 %

Shares of GNRC stock opened at $127.11 on Monday. Generac Holdings Inc. has a twelve month low of $125.00 and a twelve month high of $195.94. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.44 and a beta of 1.50. The company’s 50-day moving average price is $140.67 and its 200-day moving average price is $157.80. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate 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, equities analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

About Generac

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.