Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Generac Holdings Inc. (NYSE:GNRC) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,472 shares of the technology company’s stock after selling 673 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Generac worth $33,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Generac by 4.6% during the 2nd quarter. BlackRock Inc. now owns 4,813,152 shares of the technology company’s stock valued at $1,998,180,000 after acquiring an additional 213,057 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Generac by 76.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,596,727 shares of the technology company’s stock worth $1,078,031,000 after buying an additional 1,124,492 shares in the last quarter. State Street Corp raised its stake in shares of Generac by 1.9% during the 2nd quarter. State Street Corp now owns 2,559,276 shares of the technology company’s stock worth $1,062,483,000 after buying an additional 48,655 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Generac by 16.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,258,494 shares of the technology company’s stock worth $522,464,000 after buying an additional 173,544 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Generac by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,143,367 shares of the technology company’s stock worth $473,417,000 after buying an additional 10,368 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

In other Generac news, CFO York A. Ragen sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 11th. The stock was sold at an average price of $442.63, for a total value of $4,426,300.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 1st. The shares were sold at an average price of $422.88, for a total value of $2,114,400.00. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $9,025,450 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

A number of equities analysts have recently issued reports on GNRC shares. Bank of America raised Generac from a “neutral” rating to a “buy” rating and set a $475.00 target price for the company in a research note on Thursday, December 16th. Citigroup dropped their price objective on Generac from $560.00 to $475.00 and set a “buy” rating for the company in a research note on Tuesday, December 21st. Colliers Securities assumed coverage on Generac in a research note on Tuesday, December 14th. They issued a “buy” rating and a $490.00 price objective for the company. Zacks Investment Research downgraded Generac from a “hold” rating to a “strong sell” rating and set a $300.00 price objective for the company. in a research note on Wednesday, December 22nd. Finally, raised their price objective on Generac from $515.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Generac has a consensus rating of “Buy” and a consensus target price of $459.10.

GNRC stock opened at $306.28 on Friday. Generac Holdings Inc. has a 52-week low of $243.21 and a 52-week high of $524.31. The stock’s fifty day simple moving average is $377.29 and its 200-day simple moving average is $414.25. The company has a quick ratio of 0.97, a current ratio of 1.89 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 37.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96.

Generac (NYSE:GNRC) last issued its earnings results on Tuesday, November 2nd. The technology company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.04). The firm had revenue of $942.70 million during the quarter, compared to analysts’ expectations of $961.13 million. Generac had a return on equity of 37.32% and a net margin of 15.52%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business posted $2.08 earnings per share. As a group, analysts anticipate that Generac Holdings Inc. will post 9.53 earnings per share for the current fiscal year.

About Generac

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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