Bank of America Corp DE Sells 55,217 Shares of Generac Holdings Inc. (NYSE:GNRC)

Bank of America Corp DE lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 12.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 378,520 shares of the technology company’s stock after selling 55,217 shares during the period. Bank of America Corp DE owned about 0.64% of Generac worth $58,690,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GNRC. Vanguard Group Inc. boosted its holdings in shares of Generac by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company’s stock valued at $1,053,650,000 after purchasing an additional 47,450 shares during the last quarter. Boston Partners boosted its holdings in shares of Generac by 39.0% during the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock valued at $295,123,000 after purchasing an additional 533,612 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Generac by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,441,772 shares of the technology company’s stock valued at $223,293,000 after purchasing an additional 14,844 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Generac by 81.9% during 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Generac by 2.4% during the 4th 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 during the last quarter. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

GNRC has been the subject of several research reports. Piper Sandler dropped their price objective on shares of Generac from $175.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Citigroup upgraded 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 report on Thursday, April 17th. TD Securities decreased their target price on shares of Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. TD Cowen decreased their target price on shares of Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Bank of America initiated coverage on shares of Generac in a research report on Monday, March 24th. They set a “buy” rating and a $182.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.20.

Generac Price Performance

Shares of GNRC opened at $129.16 on Wednesday. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.73. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $195.94. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $120.39 and a two-hundred day moving average of $147.50.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating 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 net margin of 7.36% and a return on equity of 18.17%. Generac’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. As a group, analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current fiscal 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.