Geode Capital Management LLC Raises Stake in Generac Holdings Inc. (NYSE:GNRC)

Geode Capital Management LLC boosted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,441,772 shares of the technology company’s stock after buying an additional 14,844 shares during the quarter. Geode Capital Management LLC owned 2.42% of Generac worth $223,293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Generac in the 4th quarter valued at about $90,913,000. Boston Partners boosted its position 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 in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Generac by 81.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after purchasing an additional 469,575 shares in the last quarter. Jennison Associates LLC grew its stake in shares of 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, Raymond James Financial Inc. purchased a new position in shares of Generac during the 4th quarter valued at approximately $46,785,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Price Performance

GNRC stock opened at $111.97 on Friday. Generac Holdings Inc. has a 1 year low of $105.41 and a 1 year high of $195.94. The firm has a market capitalization of $6.67 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.44 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. The business’s 50-day moving average is $136.90 and its two-hundred day moving average is $156.99.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the sale, the chief executive officer now owns 565,825 shares of the company’s stock, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on GNRC shares. Bank of America initiated coverage on shares of Generac in a report on Monday, March 24th. They issued a “buy” rating and a $182.00 price objective for the company. The Goldman Sachs Group reduced their price target on Generac from $193.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Piper Sandler dropped their price objective on Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their target price on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Truist Financial dropped their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.60.

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.