Generac Holdings Inc. $GNRC Shares Bought by Meridian Management Co.

Meridian Management Co. grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,600 shares of the technology company’s stock after purchasing an additional 2,080 shares during the period. Meridian Management Co.’s holdings in Generac were worth $3,900,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MUFG Securities EMEA plc acquired a new stake in shares of Generac during the second quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the third quarter worth about $26,000. Sentry Investment Management LLC grew its position in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after acquiring an additional 67 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new position in shares of Generac during the third quarter worth about $46,000. Finally, IFP Advisors Inc grew its position in shares of Generac by 33.8% during the fourth quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock worth $59,000 after acquiring an additional 110 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GNRC. Wall Street Zen upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company upped their price target on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Robert W. Baird set a $311.00 price target on shares of Generac in a research report on Thursday, April 30th. TD Cowen upped their price target on shares of Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Barclays upped their price target on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus target price of $276.88.

Generac Stock Performance

Shares of GNRC opened at $284.25 on Wednesday. The firm has a 50-day moving average price of $231.57 and a 200 day moving average price of $194.42. The firm has a market capitalization of $16.73 billion, a PE ratio of 89.11, a P/E/G ratio of 2.52 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 Holdings Inc. has a 52-week low of $120.44 and a 52-week high of $294.18.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

About Generac

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.