Carnegie Capital Asset Management LLC Boosts Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Carnegie Capital Asset Management LLC grew its holdings in Generac Holdings Inc. (NYSE:GNRC) by 43.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,845 shares of the technology company’s stock after buying an additional 4,778 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Generac were worth $2,048,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GNRC. Fairfield Bush & CO. increased its position in shares of Generac by 83.2% during the first quarter. Fairfield Bush & CO. now owns 7,102 shares of the technology company’s stock worth $2,111,000 after purchasing an additional 3,225 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Generac by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the technology company’s stock worth $2,509,000 after buying an additional 523 shares during the last quarter. Prudential PLC acquired a new position in Generac during the first quarter worth $441,000. National Pension Service boosted its stake in Generac by 12.8% during the first quarter. National Pension Service now owns 98,555 shares of the technology company’s stock worth $29,296,000 after buying an additional 11,158 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock worth $2,012,595,000 after buying an additional 130,854 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GNRC. TD Cowen lowered their price objective on Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Robert W. Baird upped their price target on Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Canaccord Genuity Group upped their price target on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. OTR Global raised Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. Finally, Guggenheim lowered Generac from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.80.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the transaction, the chief executive officer now owns 592,177 shares of the company’s stock, valued at $75,170,948.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.

Generac Price Performance

Shares of NYSE GNRC opened at $128.54 on Tuesday. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $156.95. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 1.74 and a beta of 1.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.27 and a quick ratio of 0.94. The stock’s 50-day moving average is $120.60 and its two-hundred day moving average is $115.29.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $2.07 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). Generac had a net margin of 5.33% and a return on equity of 14.15%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. Analysts forecast that Generac Holdings Inc. will post 6.3 EPS for the current fiscal year.

Generac Company 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.