CANADA LIFE ASSURANCE Co Boosts Stock Position in Generac Holdings Inc. (NYSE:GNRC)

CANADA LIFE ASSURANCE Co lifted its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,737 shares of the technology company's stock after purchasing an additional 2,342 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in Generac were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Allworth Financial LP grew its position in Generac by 3.0% in the fourth quarter. Allworth Financial LP now owns 2,738 shares of the technology company's stock worth $435,000 after acquiring an additional 80 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Generac by 42.0% during the fourth quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company's stock valued at $44,000 after buying an additional 84 shares during the period. Wedbush Securities Inc. boosted its position in shares of Generac by 3.9% during the fourth quarter. Wedbush Securities Inc. now owns 2,235 shares of the technology company's stock valued at $347,000 after buying an additional 84 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Generac by 61.7% during the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock valued at $35,000 after buying an additional 87 shares during the period. Finally, Cornerstone Wealth Management LLC boosted its position in shares of Generac by 6.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,518 shares of the technology company's stock valued at $235,000 after buying an additional 90 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GNRC shares. Citigroup upgraded Generac from a "neutral" rating to a "buy" rating and dropped their target price for the company from $162.00 to $138.00 in a research report on Thursday, April 17th. Bank of America started coverage on Generac in a research report on Monday, March 24th. They set a "buy" rating and a $182.00 target price for the company. The Goldman Sachs Group lowered their price target on Generac from $193.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Piper Sandler reduced their price objective on Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird lowered their target price on Generac from $172.00 to $171.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.40.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the transaction, the chief executive officer now directly owns 565,825 shares in the company, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.

Generac Stock Performance

Shares of Generac stock traded up $0.53 on Monday, reaching $113.42. 733,267 shares of the stock were exchanged, compared to its average volume of 866,804. 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 twelve month low of $99.50 and a twelve month high of $195.94. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.44 and a beta of 1.58. The business has a 50 day moving average price of $124.62 and a two-hundred day moving average price of $151.52.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. Analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

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.