Generac Holdings Inc. (NYSE:GNRC) Position Reduced by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 378,520 shares of the technology company's stock after selling 55,217 shares during the quarter. Bank of America Corp DE owned about 0.64% of Generac worth $58,690,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Hurley Capital LLC acquired a new position in shares of Generac in the fourth quarter valued at $26,000. Cranbrook Wealth Management LLC bought a new position in Generac in the fourth quarter valued at about $28,000. Bank of Jackson Hole Trust bought a new position in Generac in the fourth quarter valued at about $31,000. Quadrant Capital Group LLC boosted its holdings in Generac by 61.7% during the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock worth $35,000 after buying an additional 87 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in 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 last quarter. Institutional investors own 84.04% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Securities dropped their target price on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird lowered their target price on Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Guggenheim upgraded Generac from a "sell" rating to a "neutral" rating in a research report on Monday, March 17th. UBS Group increased their price objective on Generac from $200.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, TD Cowen reduced their price objective on Generac from $173.00 to $155.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Generac presently has a consensus rating of "Moderate Buy" and an average price target of $167.20.

Generac Trading Up 1.6%

GNRC stock traded up $2.09 during midday trading on Friday, reaching $129.55. 695,890 shares of the company's stock traded hands, compared to its average volume of 853,088. The business has a 50-day moving average price of $120.06 and a two-hundred day moving average price of $146.73. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. 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 company has a market capitalization of $7.65 billion, a P/E ratio of 23.99, a PEG ratio of 1.44 and a beta of 1.73.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Equities research analysts forecast that Generac Holdings Inc. will post 8 EPS 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.