Adage Capital Partners GP L.L.C. Raises Stake in Generac Holdings Inc. (NYSE:GNRC)

Adage Capital Partners GP L.L.C. grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 6,568.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,558 shares of the technology company's stock after acquiring an additional 108,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.19% of Generac worth $17,142,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB purchased a new position in shares of Generac during the fourth quarter valued at approximately $5,229,000. Global Financial Private Client LLC bought a new position in Generac in the 4th quarter worth $614,000. Franklin Resources Inc. lifted its position in shares of Generac by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company's stock worth $4,998,000 after purchasing an additional 14,811 shares during the period. Barclays PLC boosted its stake in shares of Generac by 41.4% during the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock valued at $29,425,000 after purchasing an additional 54,202 shares in the last quarter. Finally, Dakota Wealth Management increased its position in shares of Generac by 59.1% during the fourth quarter. Dakota Wealth Management now owns 48,998 shares of the technology company's stock valued at $7,597,000 after buying an additional 18,197 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GNRC. Robert W. Baird reduced their target price on Generac from $172.00 to $171.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Bank of America initiated coverage on Generac in a research report on Monday, March 24th. They set a "buy" rating and a $182.00 price target on the stock. Wells Fargo & Company decreased their price objective on Generac from $175.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, The Goldman Sachs Group decreased their price target on shares of Generac from $193.00 to $168.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $173.40.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company's stock, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.90% of the company's stock.

Generac Stock Performance

Shares of GNRC opened at $112.97 on Friday. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94. The business has a fifty day moving average of $124.62 and a 200 day moving average of $151.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. The firm has a market capitalization of $6.73 billion, a P/E ratio of 20.92, a PEG ratio of 1.44 and a beta of 1.58.

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