Generac Holdings Inc. $GNRC Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,541 shares of the technology company’s stock after selling 3,976 shares during the period. Legal & General Group Plc owned approximately 0.29% of Generac worth $22,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after purchasing an additional 536,732 shares during the period. Robeco Schweiz AG acquired a new stake in Generac in the fourth quarter valued at approximately $51,020,000. Victory Capital Management Inc. lifted its stake in Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after acquiring an additional 324,809 shares during the last quarter. Holocene Advisors LP lifted its stake in Generac by 346.6% in the second quarter. Holocene Advisors LP now owns 356,623 shares of the technology company’s stock worth $51,072,000 after acquiring an additional 276,775 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new position in Generac during the 2nd quarter worth approximately $38,079,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GNRC shares. Jefferies Financial Group upgraded shares of Generac from a “hold” rating to a “buy” rating and raised their price objective for the company from $239.00 to $302.00 in a report on Friday, May 22nd. Robert W. Baird set a $311.00 target price on Generac in a report on Thursday, April 30th. Argus raised their price target on Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Guggenheim reaffirmed a “neutral” rating and set a $202.00 price target on shares of Generac in a report on Tuesday, February 10th. Finally, TD Cowen increased their price objective on Generac from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $276.88.

Generac Trading Up 0.1%

NYSE GNRC opened at $278.17 on Monday. The firm’s fifty day moving average price is $230.20 and its 200 day moving average price is $193.64. Generac Holdings Inc. has a 12 month low of $118.09 and a 12 month high of $287.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 87.20, a price-to-earnings-growth ratio of 2.60 and a beta of 1.93.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, sell-side analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

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.