Generac Holdings Inc. $GNRC Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 52.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,418 shares of the technology company’s stock after purchasing an additional 6,682 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Generac were worth $3,865,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Invesco Ltd. lifted its position in Generac by 49.9% in the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares during the period. State Street Corp raised its stake in shares of Generac by 2.1% in the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after buying an additional 45,592 shares in the last quarter. Boston Partners raised its stake in shares of Generac by 7.1% in the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after buying an additional 128,439 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Generac by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after buying an additional 6,332 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Generac by 20.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company’s stock worth $184,870,000 after acquiring an additional 189,457 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the sale, the insider owned 15,808 shares of the company’s stock, valued at approximately $4,046,848. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,100 shares of company stock worth $1,651,443 over the last three months. 2.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Stephens reissued an “overweight” rating and set a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. Raymond James Financial set a $302.00 target price on shares of Generac in a report on Friday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded Generac from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.44.

Generac Price Performance

Generac stock opened at $202.13 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The firm has a market cap of $11.90 billion, a P/E ratio of 63.36, a P/E/G ratio of 1.97 and a beta of 1.89. The business’s fifty day moving average is $256.28 and its two-hundred day moving average is $222.70. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 earnings per share. Equities research analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Generac Profile

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.