Generac Holdings Inc. $GNRC Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Generac Holdings Inc. by 1.6%, holding 182,952 shares worth approximately $26.8 million after selling 2,901 shares during the second quarter.
• CEO Aaron Jagdfeld sold 5,000 shares of Generac stock for $837,100, representing a 0.90% decrease in his ownership, and retaining 547,966 shares valued at nearly $91.7 million.
• Generac received mixed analyst ratings, with price targets ranging from $140 to $220, and a consensus rating of "Moderate Buy" based on 12 buy ratings and one sell rating.

Allspring Global Investments Holdings LLC trimmed its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 1.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,952 shares of the technology company's stock after selling 2,901 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.31% of Generac worth $26,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Generac by 81.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company's stock valued at $25,000 after buying an additional 77 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Generac during the first quarter valued at $28,000. Creative Capital Management Investments LLC grew its holdings in shares of Generac by 740.7% during the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company's stock valued at $33,000 after buying an additional 200 shares in the last quarter. Legend Financial Advisors Inc. purchased a new position in shares of Generac during the second quarter valued at $36,000. Finally, Private Trust Co. NA grew its holdings in shares of Generac by 42.9% during the first quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock valued at $38,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total value of $837,100.00. Following the completion of the sale, the chief executive officer owned 547,966 shares of the company's stock, valued at $91,740,467.72. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GNRC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Generac from $180.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday. Barclays lowered their target price on Generac from $200.00 to $188.00 and set an "equal weight" rating on the stock in a research note on Monday, October 6th. Roth Capital boosted their target price on Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. UBS Group restated a "buy" rating and issued a $220.00 target price (up previously from $200.00) on shares of Generac in a research note on Thursday, July 31st. Finally, Stifel Nicolaus boosted their target price on Generac from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and an average target price of $185.00.

Generac Price Performance

Shares of NYSE:GNRC opened at $192.32 on Friday. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25. The business has a 50-day moving average of $182.38 and a two-hundred day moving average of $150.24. The stock has a market capitalization of $11.29 billion, a P/E ratio of 31.95, a P/E/G ratio of 1.53 and a beta of 1.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. Generac has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Generac Holdings Inc. will post 8 EPS 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.

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