Lecap Asset Management Ltd. purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,911 shares of the technology company's stock, valued at approximately $2,395,000.
Several other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Generac by 1.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,456 shares of the technology company's stock worth $1,001,000 after purchasing an additional 72 shares during the period. MetLife Investment Management LLC grew its position in shares of Generac by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 17,004 shares of the technology company's stock valued at $2,636,000 after buying an additional 77 shares during the last quarter. Alaethes Wealth LLC grew its position in shares of Generac by 0.7% during the 4th quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company's stock valued at $1,817,000 after buying an additional 78 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Generac by 42.0% during the fourth quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company's stock worth $44,000 after acquiring an additional 84 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in Generac by 3.9% in the fourth quarter. Wedbush Securities Inc. now owns 2,235 shares of the technology company's stock worth $347,000 after acquiring an additional 84 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
GNRC has been the subject of several recent research reports. Janney Montgomery Scott raised Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup upgraded Generac from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $162.00 to $138.00 in a research report on Thursday, April 17th. Wall Street Zen raised Generac from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Piper Sandler cut their target price on Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Bank of America began coverage on shares of Generac in a research report on Monday, March 24th. They set a "buy" rating and a $182.00 price target for the company. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $169.17.
Get Our Latest Analysis on Generac
Generac Price Performance
GNRC stock traded up $3.45 during trading hours on Thursday, hitting $142.87. 208,578 shares of the stock traded hands, compared to its average volume of 868,182. The stock has a 50-day simple moving average of $122.66 and a 200 day simple moving average of $135.81. The company has a market cap of $8.44 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.23 and a beta of 1.70. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.
Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. Generac had a net margin of 7.68% and a return on equity of 18.90%. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Equities analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.
About Generac
(
Free Report)
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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