Generac Holdings Inc. (NYSE:GNRC) Shares Acquired by abrdn plc

abrdn plc lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 64.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,863 shares of the technology company’s stock after purchasing an additional 9,733 shares during the quarter. abrdn plc’s holdings in Generac were worth $3,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ninety One UK Ltd grew its stake in shares of Generac by 13.4% during the 4th quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock worth $61,634,000 after purchasing an additional 56,169 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Generac by 273.7% during the 4th quarter. State of Alaska Department of Revenue now owns 27,636 shares of the technology company’s stock worth $3,571,000 after purchasing an additional 20,240 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Generac by 13.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 83,646 shares of the technology company’s stock worth $10,810,000 after purchasing an additional 9,849 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Generac during the 4th quarter worth $17,956,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Generac by 40.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 146,470 shares of the technology company’s stock valued at $18,955,000 after acquiring an additional 42,208 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Trading Up 0.9 %

Shares of GNRC stock opened at $140.12 on Monday. The firm has a market cap of $8.44 billion, a P/E ratio of 42.59, a PEG ratio of 1.85 and a beta of 1.45. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $156.95. 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 firm’s 50-day simple moving average is $122.62 and its 200-day simple moving average is $117.21.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $2.07 EPS for the quarter, missing the consensus estimate 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 business posted $1.78 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts forecast that Generac Holdings Inc. will post 6.3 EPS for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the transaction, the chief executive officer now owns 592,177 shares in the company, valued at $75,170,948.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup increased their price objective on shares of Generac from $124.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Roth Mkm increased their price objective on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Canaccord Genuity Group increased their price objective on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Robert W. Baird increased their price objective on shares of Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Guggenheim cut shares of 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 given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.65.

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.