Parallel Advisors LLC Has $36,000 Stake in Generac Holdings Inc. (NYSE:GNRC)

Parallel Advisors LLC lessened its holdings in Generac Holdings Inc. (NYSE:GNRC) by 44.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 284 shares of the technology company’s stock after selling 226 shares during the period. Parallel Advisors LLC’s holdings in Generac were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GNRC. Spire Wealth Management boosted its holdings in shares of Generac by 203.6% during the fourth quarter. Spire Wealth Management now owns 252 shares of the technology company’s stock worth $39,000 after purchasing an additional 169 shares during the period. abrdn plc grew its position in Generac by 96.1% in the 4th quarter. abrdn plc now owns 9,009 shares of the technology company’s stock worth $1,397,000 after purchasing an additional 4,416 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Generac by 38.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,116 shares of the technology company’s stock worth $952,000 after acquiring an additional 1,692 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new position in shares of Generac during the 4th quarter worth $429,000. Finally, Entropy Technologies LP purchased a new position in shares of Generac during the 4th quarter worth $897,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Up 0.4%

NYSE:GNRC opened at $128.50 on Tuesday. The firm has a market capitalization of $7.59 billion, a P/E ratio of 23.80, a PEG ratio of 1.44 and a beta of 1.70. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $195.94. The company’s fifty day moving average price is $118.18 and its 200-day moving average price is $139.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.27. The firm had revenue of $942.12 million for the quarter, compared to the consensus estimate of $921.78 million. Generac had a net margin of 7.36% and a return on equity of 18.17%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GNRC. Piper Sandler lowered their target price on shares of Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Bank of America started coverage on shares of Generac in a report on Monday, March 24th. They issued a “buy” rating and a $182.00 target price on the stock. Canaccord Genuity Group cut their price target on shares of Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Guggenheim raised shares of Generac from a “sell” rating to a “neutral” rating in a research report on Monday, March 17th. Finally, Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $162.00 to $138.00 in a research report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $168.37.

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.