Generac Holdings Inc. (NYSE:GNRC) Stock Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Generac Holdings Inc. (NYSE:GNRC) by 46.2% during the first quarter, Holdings Channel reports. The institutional investor owned 12,289 shares of the technology company’s stock after selling 10,540 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Generac were worth $1,550,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GNRC. Fiduciary Alliance LLC bought a new stake in Generac during the 1st quarter worth approximately $286,000. Richardson Capital Management LLC acquired a new stake in shares of Generac in the 1st quarter valued at about $73,000. First Bank & Trust acquired a new position in shares of Generac during the first quarter worth $1,277,000. WoodTrust Financial Corp boosted its position in Generac by 18.8% during the 1st quarter. WoodTrust Financial Corp now owns 12,600 shares of the technology company’s stock worth $1,589,000 after buying an additional 1,996 shares during the period. Finally, Galibier Capital Management Ltd. lifted its holdings in Generac by 43.0% during the 1st quarter. Galibier Capital Management Ltd. now owns 54,863 shares of the technology company’s stock worth $6,920,000 after buying an additional 16,500 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Generac stock opened at $138.03 on Friday. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $140.16 and its 200 day simple moving average is $128.38. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $156.95. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 1.86 and a beta of 1.37.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The firm had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts forecast that Generac Holdings Inc. will post 6.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GNRC. Canaccord Genuity Group lifted their target price on Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Guggenheim downgraded Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price for the company. in a research note on Thursday, May 30th. Truist Financial boosted their price target on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Oppenheimer downgraded Generac from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Finally, Janney Montgomery Scott lowered shares of Generac from a “buy” rating to a “neutral” rating and raised their price target for the company from $126.00 to $154.00 in a research report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $141.67.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $133.39, for a total value of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the sale, the insider now directly owns 19,815 shares in the company, valued at $2,889,027. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the completion of the sale, the chief executive officer now directly owns 577,177 shares in the company, valued at $76,989,640.03. The disclosure for this sale can be found here. Insiders sold 80,785 shares of company stock worth $11,720,411 over the last quarter. 2.80% of the stock is currently owned by company insiders.

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.