Envestnet Asset Management Inc. Purchases 15,280 Shares of Generac Holdings Inc. $GNRC

Envestnet Asset Management Inc. boosted its position in Generac Holdings Inc. (NYSE:GNRC) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 597,559 shares of the technology company’s stock after purchasing an additional 15,280 shares during the period. Envestnet Asset Management Inc. owned 1.02% of Generac worth $100,031,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GNRC. State Street Corp boosted its position in Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after buying an additional 45,592 shares during the period. Invesco Ltd. raised its stake in shares of Generac by 40.9% during the second quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock valued at $285,338,000 after acquiring an additional 577,933 shares during the last quarter. Ariel Investments LLC lifted its holdings in shares of Generac by 11.7% during the second quarter. Ariel Investments LLC now owns 1,804,595 shares of the technology company’s stock worth $258,436,000 after purchasing an additional 188,717 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Generac by 3.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 914,905 shares of the technology company’s stock worth $131,024,000 after purchasing an additional 33,784 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in Generac by 11.7% in the second quarter. Brown Advisory Inc. now owns 907,349 shares of the technology company’s stock valued at $129,941,000 after purchasing an additional 95,090 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GNRC has been the topic of a number of analyst reports. Bank of America reduced their price target on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. UBS Group decreased their target price on shares of Generac from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. JPMorgan Chase & Co. upgraded shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target for the company in a report on Monday, December 8th. Zacks Research lowered shares of Generac from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.29.

Generac Stock Up 6.5%

Generac stock opened at $183.51 on Friday. The company has a market capitalization of $10.77 billion, a PE ratio of 34.95, a PEG ratio of 1.48 and a beta of 1.85. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $203.25. The firm’s fifty day moving average is $156.82 and its 200 day moving average is $168.89. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.