Principal Financial Group Inc. Buys 4,423 Shares of Generac Holdings Inc. (NYSE:GNRC)

Principal Financial Group Inc. raised its stake in shares of Generac Holdings Inc. (NYSE:GNRCGet Rating) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 82,254 shares of the technology company’s stock after purchasing an additional 4,423 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Generac worth $17,321,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glenview Trust Co increased its stake in Generac by 2.2% in the second quarter. Glenview Trust Co now owns 1,869 shares of the technology company’s stock valued at $393,000 after acquiring an additional 41 shares during the period. Lazard Asset Management LLC increased its stake in Generac by 14.7% in the second quarter. Lazard Asset Management LLC now owns 344 shares of the technology company’s stock valued at $71,000 after acquiring an additional 44 shares during the period. Meiji Yasuda Life Insurance Co increased its stake in Generac by 3.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 1,448 shares of the technology company’s stock valued at $430,000 after acquiring an additional 48 shares during the period. Douglas Lane & Associates LLC increased its stake in Generac by 4.6% in the second quarter. Douglas Lane & Associates LLC now owns 1,128 shares of the technology company’s stock valued at $238,000 after acquiring an additional 50 shares during the period. Finally, Nvwm LLC increased its stake in Generac by 1.6% in the first quarter. Nvwm LLC now owns 3,272 shares of the technology company’s stock valued at $973,000 after acquiring an additional 51 shares during the period. Institutional investors own 90.40% of the company’s stock.

Generac Trading Up 3.8 %

Shares of NYSE GNRC opened at $106.42 on Wednesday. The company’s 50 day simple moving average is $140.72 and its 200 day simple moving average is $203.70. Generac Holdings Inc. has a fifty-two week low of $95.92 and a fifty-two week high of $447.27. The firm has a market capitalization of $6.74 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 0.80.

Generac (NYSE:GNRCGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.13. Generac had a net margin of 10.29% and a return on equity of 26.03%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. On average, analysts predict that Generac Holdings Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GNRC shares. Truist Financial lowered their target price on shares of Generac from $225.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th. Credit Suisse Group decreased their price objective on shares of Generac from $181.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. Cowen decreased their price objective on shares of Generac from $179.00 to $157.00 in a research note on Thursday, November 3rd. Oppenheimer decreased their price objective on shares of Generac to $135.00 in a research note on Thursday, October 20th. Finally, Roth Capital cut shares of Generac from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $320.00 to $75.00 in a research note on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $279.50.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $119.05, for a total value of $595,250.00. Following the transaction, the chief executive officer now directly owns 595,975 shares in the company, valued at $70,950,823.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Generac Company Profile

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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