Zurcher Kantonalbank Zurich Cantonalbank Purchases 6,353 Shares of Generac Holdings Inc. $GNRC

Key Points

• Zurcher Kantonalbank increased its stake in Generac by 35.8% in Q4, buying an additional 6,353 shares to hold 24,113 shares valued at about $3.29 million.
• Generac CFO York A. Ragen sold 24,362 shares on Feb. 25 at an average of $235.61, a 15.08% reduction in his holdings; company insiders now own 2.70% of the stock.
• Generac missed Q4 expectations with EPS of $1.61 vs. $1.81 expected and revenue of $1.09B vs. $1.16B (down 11.6% YoY), while analysts maintain a consensus of “Moderate Buy” with a ~$233.94 price target.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 35.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,113 shares of the technology company's stock after purchasing an additional 6,353 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Generac were worth $3,288,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. DAVENPORT & Co LLC grew its holdings in shares of Generac by 4.4% during the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company's stock worth $53,190,000 after purchasing an additional 16,229 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Generac during the third quarter worth about $70,744,000. Strs Ohio grew its holdings in shares of Generac by 583.4% during the third quarter. Strs Ohio now owns 58,096 shares of the technology company's stock worth $9,725,000 after purchasing an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Generac by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company's stock worth $100,031,000 after purchasing an additional 15,280 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Generac by 30.5% during the third quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company's stock worth $14,501,000 after purchasing an additional 20,270 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares of the company's stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.70% of the company's stock.

Generac Stock Performance

Shares of GNRC stock opened at $220.96 on Friday. The business's 50 day simple moving average is $210.79 and its 200 day simple moving average is $179.92. Generac Holdings Inc. has a one year low of $109.20 and a one year high of $241.09. The stock has a market capitalization of $12.97 billion, a PE ratio of 82.45, a PEG ratio of 2.16 and a beta of 1.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.20). Generac had a net margin of 3.79% and a return on equity of 14.55%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $2.80 earnings per share. The business's revenue was down 11.6% on a year-over-year basis. As a group, research analysts forecast that Generac Holdings Inc. will post 8.42 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on GNRC. Canaccord Genuity Group boosted their price target on Generac from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. Citigroup reduced their price target on Generac from $237.00 to $226.00 and set a "neutral" rating on the stock in a report on Tuesday, April 21st. Bank of America reduced their price target on Generac from $260.00 to $248.00 and set a "buy" rating on the stock in a report on Thursday, March 26th. Stifel Nicolaus set a $235.00 target price on Generac in a report on Thursday, February 12th. Finally, TD Cowen upped their target price on Generac from $220.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.94.

Generac Profile

Generac Holdings Inc NYSE: GNRC is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac's product lineup addresses a broad range of customer needs.

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