Adage Capital Partners GP L.L.C. Purchases 108,900 Shares of Generac Holdings Inc. (NYSE:GNRC)

Adage Capital Partners GP L.L.C. increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 6,568.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 110,558 shares of the technology company's stock after purchasing an additional 108,900 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.19% of Generac worth $17,142,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GNRC. Hurley Capital LLC purchased a new position in shares of Generac during the fourth quarter worth approximately $26,000. Modus Advisors LLC acquired a new stake in Generac in the fourth quarter valued at $27,000. Versant Capital Management Inc boosted its holdings in shares of Generac by 391.9% during the fourth 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. Cranbrook Wealth Management LLC acquired a new position in shares of Generac during the 4th quarter valued at about $28,000. Finally, Bank of Jackson Hole Trust acquired a new position in Generac during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Stock Down 1.4 %

GNRC stock traded down $1.64 during mid-day trading on Thursday, hitting $112.74. 1,029,591 shares of the company were exchanged, compared to its average volume of 888,003. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $195.94. The firm's 50 day simple moving average is $123.07 and its 200 day simple moving average is $150.58. The firm has a market cap of $6.72 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.44 and a beta of 1.58.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.27. The firm had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. Generac had a net margin of 7.36% and a return on equity of 18.17%. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. On average, sell-side analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GNRC has been the subject of several research reports. Bank of America began coverage on shares of Generac in a research note on Monday, March 24th. They set a "buy" rating and a $182.00 price objective for the company. Robert W. Baird reduced their target price on shares of Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a research report on Thursday. TD Securities lowered their price target on shares of Generac from $173.00 to $155.00 and set a "buy" rating for the company in a report on Thursday. The Goldman Sachs Group dropped their target price on Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial cut their target price on Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $166.14.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company's stock, valued at $82,129,498.75. This represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

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.