Allspring Global Investments Holdings LLC Acquires 163,323 Shares of Generac Holdings Inc. (NYSE:GNRC)

Allspring Global Investments Holdings LLC boosted its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 819.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,254 shares of the technology company's stock after acquiring an additional 163,323 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.31% of Generac worth $28,738,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in Generac during the third quarter valued at about $114,000. Cornerstone Wealth Management LLC purchased a new position in shares of Generac during the 3rd quarter valued at about $227,000. Optimum Investment Advisors bought a new stake in Generac in the 3rd quarter worth approximately $99,000. Blue Trust Inc. lifted its position in Generac by 73.5% in the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company's stock worth $36,000 after buying an additional 97 shares during the last quarter. Finally, Raymond James & Associates grew its position in Generac by 3.6% during the third quarter. Raymond James & Associates now owns 184,467 shares of the technology company's stock valued at $29,308,000 after acquiring an additional 6,375 shares during the last quarter. Institutional investors own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Generac from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Truist Financial cut their price target on shares of Generac from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Barclays began coverage on Generac in a report on Wednesday, December 4th. They issued an "equal weight" rating and a $189.00 price objective on the stock. Citigroup dropped their target price on Generac from $172.00 to $162.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com upgraded Generac from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $174.00.

Generac Stock Down 1.1 %

Shares of NYSE GNRC traded down $1.62 on Wednesday, reaching $142.26. 751,702 shares of the company's stock traded hands, compared to its average volume of 872,990. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The business's 50 day simple moving average is $155.71 and its two-hundred day simple moving average is $160.61. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.52 and a beta of 1.42.

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 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%. As a group, equities research analysts forecast that Generac Holdings Inc. will post 8.04 EPS for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.

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.