Prospera Financial Services Inc Reduces Stock Holdings in Generac Holdings Inc. $GNRC

Prospera Financial Services Inc lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 53.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,596 shares of the technology company’s stock after selling 2,980 shares during the quarter. Prospera Financial Services Inc’s holdings in Generac were worth $354,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Generac during the 3rd quarter worth about $26,000. Sentry Investment Management LLC increased its position in Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Generac during the 2nd quarter worth about $25,000. Hazlett Burt & Watson Inc. purchased a new stake in Generac during the 3rd quarter worth about $46,000. Finally, Quarry LP increased its position in Generac by 66.3% during the 3rd quarter. Quarry LP now owns 399 shares of the technology company’s stock worth $67,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Citigroup lifted their price objective on Generac from $226.00 to $263.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Raymond James Financial set a $302.00 price objective on Generac in a research report on Friday, May 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Generac in a research report on Tuesday, May 19th. Finally, Zacks Research upgraded Generac from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.88.

Generac Stock Performance

NYSE GNRC opened at $278.17 on Monday. The firm has a market capitalization of $16.38 billion, a P/E ratio of 87.20, a P/E/G ratio of 2.60 and a beta of 1.93. Generac Holdings Inc. has a 1-year low of $118.09 and a 1-year 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 business’s 50-day simple moving average is $230.20 and its 200-day simple moving average is $193.64.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. Equities analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current 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.