DAVENPORT & Co LLC boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 77.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 473,047 shares of the technology company's stock after purchasing an additional 206,311 shares during the quarter. DAVENPORT & Co LLC owned 0.79% of Generac worth $60,077,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Generac by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,456 shares of the technology company's stock valued at $1,001,000 after acquiring an additional 72 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Generac by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 17,004 shares of the technology company's stock worth $2,636,000 after acquiring an additional 77 shares during the last quarter. Alaethes Wealth LLC raised its position in Generac by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company's stock worth $1,817,000 after purchasing an additional 78 shares during the last quarter. Wedbush Securities Inc. boosted 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 valued at $347,000 after acquiring an additional 84 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Generac by 61.7% during the 4th quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock worth $35,000 after acquiring an additional 87 shares during the period. Institutional investors own 84.04% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on GNRC shares. Piper Sandler lowered their price target on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Stephens reiterated an "overweight" rating and issued a $175.00 target price on shares of Generac in a report on Tuesday, May 27th. Wells Fargo & Company reduced their price target on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price objective on shares of Generac from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Guggenheim raised Generac from a "sell" rating to a "neutral" rating in a research note on Monday, March 17th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.17.
Read Our Latest Stock Analysis on Generac
Generac Stock Performance
NYSE:GNRC traded up $1.40 during mid-day trading on Thursday, hitting $152.02. 364,612 shares of the stock were exchanged, compared to its average volume of 861,381. The firm's 50-day simple moving average is $126.17 and its 200 day simple moving average is $134.88. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.72. 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 quick ratio of 0.89 and a current ratio of 1.97.
Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.90% and a net margin of 7.68%. The company had revenue of $942.12 million during the quarter, compared to the consensus estimate of $921.78 million. During the same quarter last year, the firm earned $0.88 earnings per share. The company's revenue was up 5.9% on a year-over-year basis. As a group, equities analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal 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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