Geode Capital Management LLC Raises Stock Holdings in Generac Holdings Inc. $GNRC

Geode Capital Management LLC increased its position in Generac Holdings Inc. (NYSE:GNRC) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,490,876 shares of the technology company’s stock after buying an additional 6,332 shares during the quarter. Geode Capital Management LLC owned 2.54% of Generac worth $202,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GNRC. MUFG Securities EMEA plc purchased a new position in shares of Generac in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac in the third quarter worth $26,000. Sentry Investment Management LLC increased its stake in shares of Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in shares of Generac in the third quarter worth $46,000. Finally, IFP Advisors Inc increased its stake in shares of Generac by 33.8% in the fourth quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock worth $59,000 after buying an additional 110 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GNRC has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Bank of America decreased their target price on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Argus lifted their target price on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Roth Mkm reissued a “neutral” rating and set a $257.00 price objective on shares of Generac in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $276.88.

Generac Stock Performance

Shares of Generac stock opened at $284.25 on Wednesday. The stock has a market cap of $16.73 billion, a price-to-earnings ratio of 89.11, a PEG ratio of 2.52 and a beta of 1.93. The firm’s 50-day moving average is $231.57 and its 200 day moving average is $194.42. Generac Holdings Inc. has a 1 year low of $120.44 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. Sell-side analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Generac Profile

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.