Wellington Management Group LLP Trims Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Wellington Management Group LLP lessened its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 84.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,158 shares of the technology company's stock after selling 56,766 shares during the period. Wellington Management Group LLP's holdings in Generac were worth $1,575,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LaFleur & Godfrey LLC grew its position in Generac by 7.0% in the 4th quarter. LaFleur & Godfrey LLC now owns 66,500 shares of the technology company's stock valued at $10,311,000 after purchasing an additional 4,350 shares during the period. Blue Trust Inc. lifted its stake in shares of Generac by 82.5% in the fourth quarter. Blue Trust Inc. now owns 418 shares of the technology company's stock valued at $66,000 after buying an additional 189 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Generac by 203.6% during the fourth quarter. Spire Wealth Management now owns 252 shares of the technology company's stock valued at $39,000 after buying an additional 169 shares during the last quarter. abrdn plc increased its position in shares of Generac by 96.1% during the fourth quarter. abrdn plc now owns 9,009 shares of the technology company's stock worth $1,397,000 after acquiring an additional 4,416 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Generac by 38.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,116 shares of the technology company's stock worth $952,000 after acquiring an additional 1,692 shares during the last quarter. Institutional investors own 84.04% of the company's stock.

Generac Stock Performance

Generac stock traded up $0.54 during trading on Monday, hitting $128.50. The stock had a trading volume of 800,070 shares, compared to its average volume of 843,691. The stock's 50 day moving average is $118.18 and its two-hundred day moving average is $139.93. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $195.94. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 1.44 and a beta of 1.70. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.27. The firm had revenue of $942.12 million for 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 revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their price objective on Generac from $200.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Generac from $165.00 to $128.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Robert W. Baird dropped their price objective on Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their target price on shares of Generac from $193.00 to $168.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, UBS Group increased their target price on shares of Generac from $200.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 13th. 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 an average rating of "Moderate Buy" and a consensus price target of $168.37.

About Generac

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.