Principal Financial Group Inc. Has $17.32 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Principal Financial Group Inc. raised its position in Generac Holdings Inc. (NYSE:GNRCGet Rating) by 5.7% in the second quarter, HoldingsChannel.com reports. The fund owned 82,254 shares of the technology company’s stock after purchasing an additional 4,423 shares during the quarter. Principal Financial Group Inc.’s holdings in Generac were worth $17,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in GNRC. Park Avenue Securities LLC lifted its stake in Generac by 16.2% in the first quarter. Park Avenue Securities LLC now owns 966 shares of the technology company’s stock valued at $287,000 after acquiring an additional 135 shares during the last quarter. Signaturefd LLC lifted its stake in Generac by 260.2% in the first quarter. Signaturefd LLC now owns 479 shares of the technology company’s stock valued at $142,000 after acquiring an additional 346 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Generac by 0.7% in the first quarter. Mutual of America Capital Management LLC now owns 11,068 shares of the technology company’s stock valued at $3,290,000 after acquiring an additional 76 shares during the last quarter. FDx Advisors Inc. lifted its stake in Generac by 42.8% in the first quarter. FDx Advisors Inc. now owns 1,947 shares of the technology company’s stock valued at $579,000 after acquiring an additional 584 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Generac by 1.3% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 37,493 shares of the technology company’s stock worth $11,145,000 after buying an additional 492 shares during the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GNRC. Truist Financial cut their target price on shares of Generac from $225.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, October 25th. StockNews.com began coverage on shares of Generac in a research note on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Generac from $415.00 to $421.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Canaccord Genuity Group cut shares of Generac from a “buy” rating to a “hold” rating and cut their target price for the stock from $485.00 to $104.00 in a research note on Friday, October 21st. Finally, Jefferies Financial Group assumed coverage on shares of Generac in a research note on Wednesday, September 28th. They set a “hold” rating and a $190.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.50.

Generac Trading Up 3.8 %

Shares of Generac stock opened at $106.42 on Wednesday. The firm has a market capitalization of $6.74 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.17. The company has a current ratio of 2.09, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $140.72 and its 200 day moving average is $203.70. Generac Holdings Inc. has a 1 year low of $95.92 and a 1 year high of $447.27.

Generac (NYSE:GNRCGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.13. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Generac had a net margin of 10.29% and a return on equity of 26.03%. Equities research analysts forecast that Generac Holdings Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $119.05, for a total transaction of $595,250.00. Following the sale, the chief executive officer now directly owns 595,975 shares of the company’s stock, valued at approximately $70,950,823.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

About Generac

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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