Legal & General Group Plc Lowers Stock Position in Generac Holdings Inc. $GNRC

Legal & General Group Plc trimmed its holdings in Generac Holdings Inc. (NYSE:GNRC) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,541 shares of the technology company’s stock after selling 3,976 shares during the quarter. Legal & General Group Plc’s holdings in Generac were worth $22,984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GNRC. Massachusetts Financial Services Co. MA boosted its stake in Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after purchasing an additional 536,732 shares during the period. Robeco Schweiz AG purchased a new stake in shares of Generac in the fourth quarter valued at about $51,020,000. Victory Capital Management Inc. boosted its stake in shares of Generac by 17.9% during the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after buying an additional 324,809 shares during the period. Holocene Advisors LP boosted its stake in shares of Generac by 346.6% during the second quarter. Holocene Advisors LP now owns 356,623 shares of the technology company’s stock worth $51,072,000 after buying an additional 276,775 shares during the period. Finally, Merewether Investment Management LP purchased a new position in shares of Generac during the second quarter worth about $38,079,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of NYSE:GNRC opened at $278.17 on Monday. Generac Holdings Inc. has a 52 week low of $118.09 and a 52 week high of $287.09. The company has a 50-day moving average price of $230.20 and a 200 day moving average price of $193.64. The company has a market cap of $16.38 billion, a P/E ratio of 87.20, a PEG ratio of 2.60 and a beta of 1.93. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Research analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Guggenheim restated a “neutral” rating and issued a $202.00 price target on shares of Generac in a research report on Tuesday, February 10th. Wells Fargo & Company lifted their target price on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Jefferies Financial Group raised Generac from a “hold” rating to a “buy” rating and boosted their target price for the company from $239.00 to $302.00 in a report on Friday, May 22nd. Raymond James Financial set a $302.00 price target on Generac in a research note on Friday, May 22nd. Finally, Robert W. Baird set a $311.00 price objective on shares of Generac in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $276.88.

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.