Arrowstreet Capital Limited Partnership Grows Position in Generac Holdings Inc. (NYSE:GNRC)

Arrowstreet Capital Limited Partnership lifted its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 81.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,042,785 shares of the technology company's stock after purchasing an additional 469,575 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.75% of Generac worth $161,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in shares of Generac during the 4th quarter valued at about $5,229,000. Global Financial Private Client LLC purchased a new position in Generac during the fourth quarter valued at approximately $614,000. Franklin Resources Inc. lifted its holdings 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 in the last quarter. Glenmede Trust Co. NA boosted its position in shares of Generac by 54.1% in the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company's stock worth $1,904,000 after purchasing an additional 4,209 shares during the period. Finally, Barclays PLC increased its stake in shares of Generac by 41.4% in the third quarter. Barclays PLC now owns 185,193 shares of the technology company's stock worth $29,425,000 after purchasing an additional 54,202 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Trading Down 5.0 %

NYSE GNRC traded down $5.80 during trading on Friday, hitting $109.84. The stock had a trading volume of 533,244 shares, compared to its average volume of 884,814. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.44 and a beta of 1.58. The stock has a 50 day simple moving average of $137.81 and a 200 day simple moving average of $157.10. Generac Holdings Inc. has a one year low of $105.51 and a one year high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Guggenheim raised shares of Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Stifel Nicolaus dropped their price objective on Generac from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Citigroup decreased their target price on Generac from $172.00 to $162.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Bank of America assumed coverage on Generac in a research note on Monday, March 24th. They issued a "buy" rating and a $182.00 price target for the company. Finally, Truist Financial reduced their price objective on shares of Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.38.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 565,825 shares in the company, valued at approximately $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.