Woodline Partners LP Invests $554,000 in Generac Holdings Inc. (NYSE:GNRC)

Woodline Partners LP acquired a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,573 shares of the technology company's stock, valued at approximately $554,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Generac by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company's stock worth $1,053,650,000 after acquiring an additional 47,450 shares during the period. Boston Partners lifted its stake in shares of Generac by 39.0% in the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company's stock worth $295,123,000 after acquiring an additional 533,612 shares during the period. Geode Capital Management LLC lifted its stake in shares of Generac by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,441,772 shares of the technology company's stock worth $223,293,000 after acquiring an additional 14,844 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Generac by 81.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company's stock worth $161,684,000 after acquiring an additional 469,575 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Generac by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company's stock worth $112,961,000 after acquiring an additional 16,954 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Stock Performance

GNRC traded down $2.13 during trading on Friday, hitting $122.15. 697,081 shares of the company traded hands, compared to its average volume of 839,575. The firm has a market cap of $7.22 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 1.44 and a beta of 1.73. The stock's fifty day moving average is $118.48 and its 200 day moving average is $142.60. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly 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 company had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. Generac had a net margin of 7.36% and a return on equity of 18.17%. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, equities analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GNRC. Bank of America began coverage on Generac in a report on Monday, March 24th. They issued a "buy" rating and a $182.00 target price for the company. Janney Montgomery Scott upgraded Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Generac from a "hold" rating to a "buy" rating in a report on Friday. Guggenheim upgraded Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Finally, TD Cowen lowered their target price on Generac from $173.00 to $155.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Seven research 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.com, Generac presently has a consensus rating of "Moderate Buy" and an average price target of $168.37.

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.