Generac Holdings Inc. (NYSE:GNRC) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 607.0% during the fourth quarter, HoldingsChannel reports. The firm owned 22,829 shares of the technology company’s stock after buying an additional 19,600 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Generac were worth $2,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GNRC. State of Alaska Department of Revenue lifted its stake in shares of Generac by 273.7% in the fourth quarter. State of Alaska Department of Revenue now owns 27,636 shares of the technology company’s stock worth $3,571,000 after acquiring an additional 20,240 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Generac by 13.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 83,646 shares of the technology company’s stock worth $10,810,000 after acquiring an additional 9,849 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Generac in the fourth quarter worth about $17,956,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Generac by 40.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 146,470 shares of the technology company’s stock worth $18,955,000 after acquiring an additional 42,208 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Generac in the third quarter worth about $1,832,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $126.94, for a total value of $634,700.00. Following the completion of the transaction, the chief executive officer now directly owns 592,177 shares of the company’s stock, valued at approximately $75,170,948.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GNRC shares. Citigroup boosted their price target on Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Canaccord Genuity Group boosted their price target on Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. UBS Group cut their price objective on Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Robert W. Baird upped their price objective on Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Guggenheim cut Generac from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.80.

Generac Stock Performance

Shares of GNRC stock opened at $135.15 on Friday. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $156.95. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.45. The business has a 50 day simple moving average of $121.21 and a 200 day simple moving average of $115.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.27 and a quick ratio of 0.94.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 14th. The technology company reported $2.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). Generac had a return on equity of 14.15% and a net margin of 5.33%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $1.78 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Generac Holdings Inc. will post 6.3 EPS for the current year.

Generac Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.