Redwood Investment Management LLC Acquires New Position in Generac Holdings Inc. (NYSE:GNRC)

Redwood Investment Management LLC acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,262 shares of the technology company's stock, valued at approximately $1,436,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Generac by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company's stock worth $1,053,650,000 after acquiring an additional 47,450 shares in the last quarter. Boston Partners boosted its stake in Generac by 39.0% in the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company's stock worth $295,123,000 after purchasing an additional 533,612 shares during the period. Geode Capital Management LLC increased its holdings in Generac by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,441,772 shares of the technology company's stock worth $223,293,000 after purchasing an additional 14,844 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Generac by 81.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company's stock valued at $161,684,000 after purchasing an additional 469,575 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Generac by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company's stock valued at $112,961,000 after purchasing an additional 16,954 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Generac Stock Down 0.3%

Shares of GNRC traded down $0.43 during trading hours on Monday, hitting $129.01. The company had a trading volume of 601,087 shares, compared to its average volume of 852,619. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 1.44 and a beta of 1.73. The firm has a fifty day moving average price of $120.01 and a 200-day moving average price of $146.19. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.17% and a net margin of 7.36%. Generac's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. On average, equities research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on GNRC. Guggenheim raised shares of Generac from a "sell" rating to a "neutral" rating in a research report on Monday, March 17th. Bank of America initiated coverage on Generac in a research report on Monday, March 24th. They set a "buy" rating and a $182.00 price target on the stock. Wells Fargo & Company cut their price objective on Generac from $165.00 to $128.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Citigroup raised shares of Generac from a "neutral" rating to a "buy" rating and decreased their target price for the company from $162.00 to $138.00 in a research note on Thursday, April 17th. Finally, Piper Sandler dropped their price target on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $167.20.

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.