Citigroup Inc. Has $18.34 Million Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Citigroup Inc. lifted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 141.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 144,776 shares of the technology company's stock after buying an additional 84,760 shares during the period. Citigroup Inc. owned about 0.24% of Generac worth $18,336,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Generac during the 1st quarter worth $28,000. Private Trust Co. NA increased its holdings in Generac by 42.9% in the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after purchasing an additional 90 shares in the last quarter. Ostrum Asset Management acquired a new position in Generac in the 4th quarter worth about $50,000. New Age Alpha Advisors LLC acquired a new position in Generac in the 1st quarter worth about $54,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Generac in the 4th quarter worth about $89,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stephens reaffirmed an "overweight" rating and issued a $175.00 target price on shares of Generac in a report on Tuesday, May 27th. Wall Street Zen raised Generac from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Piper Sandler lowered their target price on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup raised Generac from a "neutral" rating to a "mixed" rating in a report on Friday, July 11th. Finally, TD Cowen increased their price target on Generac from $155.00 to $198.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $170.06.

Generac Stock Up 2.0%

Shares of Generac stock opened at $202.86 on Thursday. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $203.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The stock's 50-day moving average is $153.58 and its 200 day moving average is $136.71. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 1.59 and a beta of 1.68.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $1.35 EPS. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the sale, the chief executive officer owned 562,966 shares in the company, valued at $80,166,358.40. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

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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