Allspring Global Investments Holdings LLC Decreases Position in Generac Holdings Inc. $GNRC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 93.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,736 shares of the technology company’s stock after selling 168,173 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Generac were worth $1,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in shares of Generac during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac during the 3rd quarter valued at about $26,000. First Horizon Corp purchased a new position in shares of Generac during the 3rd quarter valued at about $28,000. Sentry Investment Management LLC raised its stake in shares of Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Generac during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $277.00 price objective on shares of Generac in a research note on Thursday, March 26th. Zacks Research upgraded Generac from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. TD Cowen lifted their price objective on Generac from $220.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Stifel Nicolaus set a $235.00 price objective on Generac in a research note on Thursday, February 12th. Finally, Roth Mkm restated a “neutral” rating and set a $220.00 target price on shares of Generac in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $229.94.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the sale, the chief financial officer directly owned 137,182 shares in the company, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Generac Trading Up 6.2%

GNRC stock opened at $202.93 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $241.09. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 75.72, a PEG ratio of 1.38 and a beta of 1.78. The business’s 50-day moving average is $204.79 and its 200 day moving average is $176.29.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $2.80 earnings per share. The company’s quarterly revenue was down 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.