Soviero Asset Management LP Has $2.64 Million Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Soviero Asset Management LP reduced its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 63.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,000 shares of the technology company's stock after selling 30,000 shares during the period. Soviero Asset Management LP's holdings in Generac were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GNRC. Nebula Research & Development LLC bought a new stake in shares of Generac in the 4th quarter worth approximately $3,638,000. Pinebridge Investments L.P. raised its holdings 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 worth $10,697,000 after purchasing an additional 15,147 shares in the last quarter. Evercore Wealth Management LLC raised its holdings in shares of Generac by 4.3% in the 4th quarter. Evercore Wealth Management LLC now owns 430,068 shares of the technology company's stock worth $66,682,000 after purchasing an additional 17,711 shares in the last quarter. Barclays PLC raised its holdings in shares of Generac by 41.4% in the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock worth $29,425,000 after purchasing an additional 54,202 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of Generac by 59.1% in the 4th quarter. Dakota Wealth Management now owns 48,998 shares of the technology company's stock worth $7,597,000 after purchasing an additional 18,197 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GNRC has been the topic of a number of research reports. Citigroup upgraded shares of Generac from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $162.00 to $138.00 in a report on Thursday, April 17th. TD Securities dropped their target price on shares of Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group dropped their target price on shares of Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. TD Cowen cut their price target on shares of Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group boosted their price target on shares of Generac from $200.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.20.

Generac Stock Down 0.2%

GNRC traded down $0.24 on Friday, reaching $123.63. 541,517 shares of the company traded hands, compared to its average volume of 845,661. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 1.44 and a beta of 1.73. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The stock's 50 day moving average price is $119.52 and its 200-day moving average price is $145.17.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results 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 company had revenue of $942.12 million during the quarter, compared to the consensus estimate of $921.78 million. Generac had a net margin of 7.36% and a return on equity of 18.17%. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect 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.