abrdn plc Has $712,000 Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

abrdn plc decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 71.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,593 shares of the technology company’s stock after selling 11,584 shares during the quarter. abrdn plc’s holdings in Generac were worth $712,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Capital World Investors lifted its holdings in Generac by 2.1% during the 1st quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after purchasing an additional 25,646 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Generac during the second quarter worth $98,282,000. Dimensional Fund Advisors LP lifted its holdings in shares of Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock worth $92,941,000 after buying an additional 35,026 shares in the last quarter. Ninety One UK Ltd lifted its holdings in shares of Generac by 0.7% during the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after buying an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Generac by 29.2% during the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares in 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 recently weighed in on the company. Truist Financial lifted their target price on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler lifted their target price on Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Robert W. Baird dropped their target price on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday. Canaccord Genuity Group boosted their price target on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Roth Mkm boosted their price target on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.10.

Generac Stock Performance

Generac stock opened at $170.74 on Tuesday. The stock has a market cap of $10.27 billion, a PE ratio of 35.42, a P/E/G ratio of 2.13 and a beta of 1.37. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $157.43 and its two-hundred day moving average price is $148.70. Generac Holdings Inc. has a 12-month low of $100.23 and a 12-month high of $176.14.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share. As a group, analysts expect that Generac Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.

Generac 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.