Grimes & Company Inc. Purchases New Holdings in Generac Holdings Inc. (NYSE:GNRC)

Grimes & Company Inc. purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,468 shares of the technology company's stock, valued at approximately $6,265,000. Grimes & Company Inc. owned about 0.08% of Generac as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GNRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Generac by 1.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,456 shares of the technology company's stock worth $1,001,000 after purchasing an additional 72 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Generac by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 17,004 shares of the technology company's stock valued at $2,636,000 after acquiring an additional 77 shares in the last quarter. Alaethes Wealth LLC boosted its holdings in shares of Generac by 0.7% during the 4th quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company's stock valued at $1,817,000 after acquiring an additional 78 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Generac by 3.0% during the 4th quarter. Allworth Financial LP now owns 2,738 shares of the technology company's stock valued at $435,000 after acquiring an additional 80 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Generac by 42.0% during the 4th quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company's stock worth $44,000 after buying an additional 84 shares during the period. Institutional investors own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus cut their target price on Generac from $200.00 to $195.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Piper Sandler dropped their price target on Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. TD Cowen lowered their price objective on Generac from $173.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stephens reaffirmed an "overweight" rating and set a $175.00 price target on shares of Generac in a research report on Tuesday, May 27th. Finally, Bank of America began coverage on Generac in a research report on Monday, March 24th. They issued a "buy" rating and a $182.00 target price for the company. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Generac has an average rating of "Moderate Buy" and a consensus price target of $169.17.

Generac Trading Up 1.2%

Shares of GNRC stock opened at $126.23 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $120.13 and a two-hundred day moving average price of $137.74. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $195.94. The firm has a market cap of $7.46 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.70.

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

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.

Want to see what other hedge funds are holding GNRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Generac Holdings Inc. (NYSE:GNRC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.