Fifth Third Bancorp Has $332,000 Stake in Generac Holdings Inc. (NYSE:GNRC)

Fifth Third Bancorp trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,624 shares of the technology company’s stock after selling 178 shares during the quarter. Fifth Third Bancorp’s holdings in Generac were worth $332,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Generac during the fourth quarter worth $90,913,000. Boston Partners raised its stake in Generac by 39.0% during the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock worth $295,123,000 after acquiring an additional 533,612 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after purchasing an additional 469,575 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of Generac during the fourth quarter worth $49,313,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Generac during the fourth quarter worth $46,785,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GNRC shares. Canaccord Genuity Group decreased their target price on Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Guggenheim upgraded Generac from a “sell” rating to a “neutral” rating in a report on Monday, March 17th. Bank of America assumed coverage on Generac in a report on Monday, March 24th. They issued a “buy” rating and a $182.00 price target on the stock. Wells Fargo & Company decreased their price target on Generac from $165.00 to $128.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Stephens reiterated an “overweight” rating and issued a $175.00 price target on shares of Generac in a report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.17.

Generac Price Performance

Shares of GNRC opened at $125.41 on Thursday. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $195.94. The stock has a market cap of $7.41 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.12 and a beta of 1.70. The stock’s 50-day moving average price is $120.53 and its two-hundred day moving average price is $137.56.

Generac (NYSE:GNRC) last issued its 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 analysts’ expectations of $921.78 million. Generac had a return on equity of 18.90% and a net margin of 7.68%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. On average, equities analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

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.