Bridges Investment Management Inc. Has $20.79 Million Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Bridges Investment Management Inc. boosted its position in Generac Holdings Inc. (NYSE:GNRC) by 75.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,204 shares of the technology company’s stock after purchasing an additional 67,728 shares during the period. Bridges Investment Management Inc. owned 0.26% of Generac worth $20,786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GNRC. Capital World Investors acquired a new position in Generac in the 4th quarter worth about $155,707,000. William Blair Investment Management LLC acquired a new position in Generac in the 2nd quarter worth about $98,282,000. Norges Bank bought a new stake in shares of Generac in the 4th quarter valued at about $67,253,000. Wellington Management Group LLP grew its position in shares of Generac by 432.9% in the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after buying an additional 318,664 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its position in shares of Generac by 831.1% in the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after buying an additional 214,322 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Janney Montgomery Scott lowered Generac from a “buy” rating to a “neutral” rating and upped their price target for the company from $126.00 to $154.00 in a research report on Thursday, June 13th. Piper Sandler upped their price target on Generac from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $175.00 price target (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. Stephens reiterated an “overweight” rating and issued a $200.00 price target on shares of Generac in a research report on Monday, August 5th. Finally, Canaccord Genuity Group upped their price target on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $154.71.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the completion of the sale, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

Generac Stock Down 0.2 %

Shares of NYSE:GNRC opened at $142.91 on Friday. The business’s 50 day simple moving average is $149.50 and its two-hundred day simple moving average is $139.31. The firm has a market cap of $8.66 billion, a P/E ratio of 39.37, a PEG ratio of 1.83 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $169.57.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 earnings per share. As a group, research analysts forecast that Generac Holdings Inc. will post 6.52 EPS for the current fiscal year.

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.