First Trust Advisors LP Boosts Position in Generac Holdings Inc. (NYSE:GNRC)

First Trust Advisors LP boosted its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 828.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 168,548 shares of the technology company's stock after purchasing an additional 150,385 shares during the quarter. First Trust Advisors LP owned about 0.28% of Generac worth $26,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GNRC. Vanguard Group Inc. increased its position in shares of Generac by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company's stock valued at $1,053,650,000 after acquiring an additional 47,450 shares in the last quarter. Boston Partners increased its holdings in shares of Generac by 39.0% in the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company's stock worth $295,123,000 after purchasing an additional 533,612 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Generac by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,441,772 shares of the technology company's stock worth $223,293,000 after purchasing an additional 14,844 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company's stock valued at $161,684,000 after purchasing an additional 469,575 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company's stock valued at $104,227,000 after buying an additional 384,434 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, February 3rd. The shares were 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 of the company's stock, valued at approximately $82,129,498.75. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GNRC shares. The Goldman Sachs Group lowered their target price on shares of Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Citigroup raised shares of Generac from a "neutral" rating to a "buy" rating and cut their target price for the stock from $162.00 to $138.00 in a research report on Thursday, April 17th. Bank of America started coverage on Generac in a research note on Monday, March 24th. They issued a "buy" rating and a $182.00 price target on the stock. Piper Sandler reduced their price objective on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price target on Generac from $175.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.40.

Generac Price Performance

Shares of Generac stock traded up $0.53 during trading on Monday, reaching $113.42. 733,267 shares of the stock traded hands, compared to its average volume of 866,804. 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 company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 1.44 and a beta of 1.58. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The business has a fifty day simple moving average of $124.62 and a two-hundred day simple moving average of $151.52.

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 (EPS) for the quarter, topping 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%. Sell-side analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

About Generac

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.