Generac Holdings Inc. (NYSE:GNRC) Stake Raised by abrdn plc

abrdn plc boosted its holdings in Generac Holdings Inc. (NYSE:GNRC) by 64.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,863 shares of the technology company’s stock after purchasing an additional 9,733 shares during the quarter. abrdn plc’s holdings in Generac were worth $3,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ninety One UK Ltd raised its position in Generac by 13.4% in the fourth quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock worth $61,634,000 after acquiring an additional 56,169 shares in the last quarter. State of Alaska Department of Revenue raised its position in 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. raised its position in 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 bought a new stake in Generac in the fourth quarter worth about $17,956,000. Finally, DekaBank Deutsche Girozentrale raised its position in 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. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the sale, the chief executive officer now directly owns 592,177 shares in the company, valued at approximately $75,170,948.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

Generac Trading Up 0.9 %

NYSE:GNRC opened at $140.12 on Monday. 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 Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $156.95. The stock’s 50-day moving average is $122.62 and its two-hundred day moving average is $117.21. The stock has a market cap of $8.44 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 1.85 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group lifted 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. OTR Global raised Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. Canaccord Genuity Group lifted 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. Roth Mkm lifted their price target on Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, UBS Group dropped their price target on Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $141.65.

Generac Company 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.