Baird Financial Group Inc. Buys 24,334 Shares of Generac Holdings Inc. (NYSE:GNRC)

Baird Financial Group Inc. raised its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 44.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,244 shares of the technology company's stock after acquiring an additional 24,334 shares during the period. Baird Financial Group Inc. owned approximately 0.13% of Generac worth $12,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its stake in shares of Generac by 41.4% during the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock worth $29,425,000 after acquiring an additional 54,202 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Generac during the third quarter worth $51,000. Franklin Resources Inc. boosted its stake in shares of Generac by 106.1% during the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company's stock valued at $4,998,000 after purchasing an additional 14,811 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Generac by 0.8% in the third quarter. Retirement Systems of Alabama now owns 13,476 shares of the technology company's stock worth $2,141,000 after purchasing an additional 105 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Generac by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company's stock worth $11,324,000 after buying an additional 3,426 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GNRC. Robert W. Baird decreased their price target on shares of Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Citigroup upgraded Generac from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $162.00 to $138.00 in a report on Thursday, April 17th. Bank of America initiated coverage on Generac in a research note on Monday, March 24th. They set a "buy" rating and a $182.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, Guggenheim upgraded shares of Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.20.

Generac Stock Performance

Shares of GNRC stock opened at $116.15 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. The business has a fifty day moving average of $120.77 and a 200 day moving average of $148.65. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.73. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a net margin of 7.36% and a return on equity of 18.17%. The company had revenue of $942.12 million for the quarter, compared to the consensus estimate of $921.78 million. During the same quarter in the prior year, the company earned $0.88 EPS. Generac's quarterly revenue was up 5.9% on a year-over-year basis. As a group, research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current 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.

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