Formidable Asset Management LLC Invests $423,000 in Generac Holdings Inc. (NYSE:GNRC)

Formidable Asset Management LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,729 shares of the technology company's stock, valued at approximately $423,000.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Generac in the 4th quarter worth $90,913,000. Boston Partners boosted its position in shares of Generac by 39.0% in the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company's stock worth $295,123,000 after purchasing an additional 533,612 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Generac by 81.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company's stock worth $161,684,000 after buying an additional 469,575 shares during the period. Jennison Associates LLC lifted its holdings in Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company's stock worth $104,227,000 after acquiring an additional 384,434 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in Generac during the fourth quarter worth about $49,313,000. 84.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GNRC. TD Securities reduced their target price on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Piper Sandler reduced their target price on Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Bank of America began coverage on Generac in a research note on Monday, March 24th. They issued a "buy" rating and a $182.00 price target on the stock. Janney Montgomery Scott raised Generac from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price target on Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $165.95.

Generac Stock Performance

NYSE GNRC traded down $0.30 during trading on Thursday, reaching $124.25. 527,401 shares of the company's stock were exchanged, compared to its average volume of 841,810. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. The stock has a market capitalization of $7.34 billion, a P/E ratio of 23.01, a PEG ratio of 1.44 and a beta of 1.73. The business has a 50 day moving average price of $119.03 and a 200-day moving average price of $143.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The company had revenue of $942.12 million during the quarter, compared to analysts' expectations of $921.78 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business's revenue was up 5.9% on a year-over-year basis. Sell-side analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Generac 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.