Invesco Ltd. Reduces Position in Generac Holdings Inc. (NYSE:GNRC)

Invesco Ltd. decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,129,126 shares of the technology company’s stock after selling 40,023 shares during the period. Invesco Ltd.’s holdings in Generac were worth $175,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Generac in the 4th quarter valued at $90,913,000. Boston Partners increased its stake in Generac by 39.0% in the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock valued at $295,123,000 after purchasing an additional 533,612 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Generac by 81.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock valued at $161,684,000 after buying an additional 469,575 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock worth $104,227,000 after buying an additional 384,434 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Generac during the fourth quarter worth about $46,785,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares of the company’s stock, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GNRC. UBS Group upped their price objective on Generac from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Bank of America began coverage on Generac in a report on Monday, March 24th. They set a “buy” rating and a $182.00 price target for the company. Piper Sandler dropped their price objective on shares of Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Citigroup reduced their target price on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Truist Financial dropped their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $175.60.

Generac Trading Up 1.6 %

Shares of GNRC stock opened at $110.15 on Friday. The stock has a market cap of $6.57 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.44 and a beta of 1.58. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. The business has a fifty day simple moving average of $131.34 and a 200-day simple moving average of $155.14.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. On average, analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Generac 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.