151,000 Shares in Generac Holdings Inc. (NYSE:GNRC) Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 151,000 shares of the technology company's stock, valued at approximately $23,413,000. Lord Abbett & CO. LLC owned 0.25% of Generac as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kovitz Investment Group Partners LLC increased its holdings in shares of Generac by 18.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 45,096 shares of the technology company's stock worth $6,992,000 after buying an additional 6,932 shares during the last quarter. Evercore Wealth Management LLC boosted its holdings in Generac by 4.3% during the 4th quarter. Evercore Wealth Management LLC now owns 430,068 shares of the technology company's stock valued at $66,682,000 after acquiring an additional 17,711 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in Generac by 6,568.2% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 110,558 shares of the technology company's stock worth $17,142,000 after buying an additional 108,900 shares in the last quarter. Brasada Capital Management LP increased its position in shares of Generac by 80.0% in the 4th quarter. Brasada Capital Management LP now owns 4,500 shares of the technology company's stock valued at $698,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its position in shares of Generac by 28.1% during 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 during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Analyst Ratings Changes

GNRC has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Thursday. Truist Financial lowered their target price on shares of Generac from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, January 16th. TD Securities reduced their price target on shares of Generac from $173.00 to $155.00 and set a "buy" rating for the company in a research report on Thursday. The Goldman Sachs Group dropped their price objective on Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler reduced their target price on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $166.14.

Generac Trading Down 1.4 %

Shares of NYSE GNRC traded down $1.64 on Thursday, reaching $112.74. 1,029,591 shares of the company traded hands, compared to its average volume of 862,677. The stock has a market capitalization of $6.72 billion, a PE ratio of 20.88, a P/E/G ratio of 1.44 and a beta of 1.58. The company has a 50 day moving average of $123.07 and a 200 day moving average of $150.58. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.99 by $0.27. Generac had a net margin of 7.36% and a return on equity of 18.17%. The firm had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. During the same quarter last year, the firm posted $0.88 earnings per share. Generac's revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by insiders.

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.