Peregrine Capital Management LLC Increases Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Peregrine Capital Management LLC increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,064 shares of the technology company's stock after acquiring an additional 6,615 shares during the period. Peregrine Capital Management LLC owned about 0.11% of Generac worth $8,367,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nebula Research & Development LLC purchased a new stake in Generac in the 4th quarter worth approximately $3,638,000. Pinebridge Investments L.P. lifted its stake in shares of Generac by 28.1% in the 4th quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock valued at $10,697,000 after purchasing an additional 15,147 shares during the period. Evercore Wealth Management LLC boosted its holdings in Generac by 4.3% during the fourth quarter. Evercore Wealth Management LLC now owns 430,068 shares of the technology company's stock worth $66,682,000 after buying an additional 17,711 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Generac by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,986 shares of the technology company's stock valued at $86,516,000 after buying an additional 2,015 shares during the period. Finally, Scholtz & Company LLC purchased a new position in Generac in the fourth quarter valued at $1,836,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on GNRC. Canaccord Genuity Group lowered their target price on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Bank of America initiated coverage on Generac in a research report on Monday, March 24th. They set a "buy" rating and a $182.00 price target on the stock. Janney Montgomery Scott upgraded Generac from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Piper Sandler reduced their target price on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price target on shares of Generac from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.17.

Generac Stock Performance

Shares of Generac stock traded up $3.28 during trading on Tuesday, reaching $146.49. The company's stock had a trading volume of 207,582 shares, compared to its average volume of 858,358. The firm has a market cap of $8.65 billion, a PE ratio of 25.50, a P/E/G ratio of 1.28 and a beta of 1.70. The company has a 50-day moving average price of $124.63 and a two-hundred day moving average price of $134.69. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $921.78 million. During the same period last year, the business posted $0.88 EPS. The company's revenue was up 5.9% on a year-over-year basis. On average, analysts forecast that Generac Holdings Inc. will post 8 EPS for the current 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.