79,242 Shares in Generac Holdings Inc. (NYSE:GNRC) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 79,242 shares of the technology company's stock, valued at approximately $12,286,000. Wealthfront Advisers LLC owned about 0.13% of Generac at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Trust N.A. grew its position in Generac by 52.8% during the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company's stock valued at $541,000 after acquiring an additional 1,177 shares during the period. Nordea Investment Management AB bought a new stake in shares of Generac during the 4th quarter worth $5,229,000. Global Financial Private Client LLC acquired a new stake in shares of Generac in the fourth quarter worth $614,000. Principal Financial Group Inc. boosted its position in shares of Generac by 5.0% in the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company's stock worth $11,324,000 after buying an additional 3,426 shares during the period. Finally, Franklin Resources Inc. boosted its position in Generac by 106.1% during the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company's stock valued at $4,998,000 after purchasing an additional 14,811 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the sale, the chief executive officer now owns 565,825 shares of the company's stock, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on GNRC shares. Truist Financial lowered their price target on Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company reduced their target price on shares of Generac from $175.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Piper Sandler decreased their price target on Generac from $185.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Citigroup reduced their target price on Generac from $172.00 to $162.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their target price on Generac from $193.00 to $168.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Generac has a consensus rating of "Moderate Buy" and an average target price of $174.00.

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Shares of NYSE GNRC opened at $131.39 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 52 week low of $110.35 and a 52 week high of $195.94. The firm has a 50-day moving average price of $147.68 and a 200 day moving average price of $159.37. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Equities research analysts anticipate that Generac Holdings Inc. will post 8 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.

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