Wellington Management Group LLP Decreases Position in Generac Holdings Inc. (NYSE:GNRC)

Wellington Management Group LLP reduced its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 84.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,158 shares of the technology company's stock after selling 56,766 shares during the quarter. Wellington Management Group LLP's holdings in Generac were worth $1,575,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nebula Research & Development LLC bought a new position in Generac in the fourth quarter worth about $3,638,000. Pinebridge Investments L.P. boosted its position in 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 boosted its position in 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. Charles Schwab Investment Management Inc. boosted its position in Generac by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,986 shares of the technology company's stock worth $86,516,000 after purchasing an additional 2,015 shares in the last quarter. Finally, Scholtz & Company LLC acquired a new position in shares of Generac during the 4th quarter worth approximately $1,836,000. 84.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GNRC has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on Generac from $165.00 to $128.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group cut their target price on Generac from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stephens reaffirmed an "overweight" rating and issued a $175.00 target price on shares of Generac in a research note on Tuesday, May 27th. Piper Sandler cut their price objective on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen raised Generac from a "hold" rating to a "buy" rating in a research report on Saturday. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $168.37.

Generac Stock Up 1.3%

Shares of GNRC traded up $1.62 during midday trading on Friday, hitting $127.95. The company had a trading volume of 902,838 shares, compared to its average volume of 843,866. The company's 50-day simple moving average is $118.17 and its 200-day simple moving average is $140.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The firm has a market capitalization of $7.56 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.44 and a beta of 1.70. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.27. The business had revenue of $942.12 million during the quarter, compared to analysts' expectations of $921.78 million. Generac had a return on equity of 18.17% and a net margin of 7.36%. The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. As a group, sell-side analysts expect 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.