Allspring Global Investments Holdings LLC Has $3.87 Million Position in Generac Holdings Inc. $GNRC

Allspring Global Investments Holdings LLC grew its position in Generac Holdings Inc. (NYSE:GNRC) by 52.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,418 shares of the technology company’s stock after purchasing an additional 6,682 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Generac were worth $3,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Generac in the third quarter valued at approximately $26,000. MUFG Securities EMEA plc acquired a new position in Generac during the 2nd quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new position in Generac during the 1st quarter worth approximately $36,000. Root Financial Partners LLC grew its stake in shares of Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 54 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Generac by 66.2% during the 3rd quarter. Quarry LP now owns 399 shares of the technology company’s stock worth $67,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

Shares of GNRC opened at $202.13 on Friday. The company’s 50-day moving average is $256.28 and its 200-day moving average is $222.70. 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 firm has a market capitalization of $11.90 billion, a PE ratio of 63.36, a PEG ratio of 1.97 and a beta of 1.89. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Roth Capital reissued a “neutral” rating and issued a $257.00 price objective on shares of Generac in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price target on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Needham & Company LLC restated a “buy” rating on shares of Generac in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $286.44.

Insider Buying and Selling at Generac

In other Generac news, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the transaction, the insider owned 15,808 shares in the company, valued at $4,046,848. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,100 shares of company stock worth $1,651,443 in the last quarter. Company insiders own 2.40% of the company’s stock.

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.