Geode Capital Management LLC Boosts Stake in Generac Holdings Inc. (NYSE:GNRC)

Geode Capital Management LLC increased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,441,772 shares of the technology company’s stock after buying an additional 14,844 shares during the quarter. Geode Capital Management LLC’s holdings in Generac were worth $223,293,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GNRC. Modus Advisors LLC purchased a new position in shares of Generac during the fourth quarter worth approximately $27,000. Cranbrook Wealth Management LLC purchased a new position in Generac during the 4th quarter worth $28,000. Versant Capital Management Inc grew its position in Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after purchasing an additional 145 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in Generac in the fourth quarter valued at $31,000. Finally, Spire Wealth Management boosted its stake 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 buying an additional 169 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the sale, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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. Robert W. Baird decreased their price target on Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Bank of America assumed coverage on shares of Generac in a research note on Monday, March 24th. They issued a “buy” rating and a $182.00 price objective on the stock. Piper Sandler reduced their target price on shares of Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus 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, February 13th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average target price of $175.60.

Generac Stock Performance

NYSE GNRC opened at $111.97 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. Generac Holdings Inc. has a fifty-two week low of $105.41 and a fifty-two week high of $195.94. The business has a fifty day moving average of $136.90 and a 200-day moving average of $156.99.

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