Generac Holdings Inc. (NYSE:GNRC) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in Generac Holdings Inc. (NYSE:GNRC) by 31.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,032 shares of the technology company’s stock after buying an additional 2,658 shares during the period. ProShare Advisors LLC’s holdings in Generac were worth $1,711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GNRC. Norges Bank acquired a new stake in shares of Generac in the fourth quarter worth $90,913,000. Boston Partners boosted its holdings in Generac by 39.0% in the fourth 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. Arrowstreet Capital Limited Partnership boosted its holdings in Generac by 81.9% in the fourth 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. Jennison Associates LLC grew its position in Generac by 133.6% during the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock worth $104,227,000 after purchasing an additional 384,434 shares during the period. Finally, Forest Avenue Capital Management LP purchased a new position in shares of Generac during the 4th quarter valued at about $49,313,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler lowered their target price on Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Janney Montgomery Scott raised Generac from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their price objective on Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. TD Securities dropped their price objective on shares of Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Guggenheim upgraded shares of Generac from a “sell” rating to a “neutral” rating in a research note on Monday, March 17th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.20.

Generac Trading Down 3.4%

GNRC stock opened at $122.93 on Thursday. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $195.94. The business’s 50-day moving average is $119.86 and its 200 day moving average is $145.90. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.44 and a beta of 1.73.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The firm had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. During the same period in the previous year, the company posted $0.88 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

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.