Generac Holdings Inc. (NYSE:GNRC) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,272 shares of the technology company's stock after purchasing an additional 3,426 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Generac worth $11,324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC boosted its holdings in Generac by 17.3% during the first quarter. ProShare Advisors LLC now owns 11,069 shares of the technology company's stock worth $1,396,000 after buying an additional 1,635 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Generac during the first quarter worth $233,000. Kingsview Wealth Management LLC acquired a new stake in shares of Generac in the first quarter valued at about $257,000. UniSuper Management Pty Ltd boosted its position in Generac by 1,278.9% during the first quarter. UniSuper Management Pty Ltd now owns 7,529 shares of the technology company's stock worth $950,000 after acquiring an additional 6,983 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in Generac by 1.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 415,583 shares of the technology company's stock valued at $52,422,000 after acquiring an additional 3,975 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares of the company's stock, valued at approximately $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO York A. Ragen sold 29,081 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 in the last 90 days. Corporate insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GNRC. Truist Financial boosted their target price on Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on Generac from $160.00 to $178.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Piper Sandler boosted their price target on shares of Generac from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Stifel Nicolaus restated a "buy" rating and set a $175.00 price objective (up from $145.00) on shares of Generac in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on shares of Generac from $148.00 to $193.00 and gave the company a "buy" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $172.21.

Generac Stock Up 0.1 %

GNRC stock traded up $0.12 during midday trading on Monday, hitting $181.94. The company's stock had a trading volume of 932,124 shares, compared to its average volume of 956,489. The firm has a 50-day simple moving average of $164.01 and a 200-day simple moving average of $151.96. The firm has a market capitalization of $10.82 billion, a P/E ratio of 37.89, a PEG ratio of 2.23 and a beta of 1.37. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. As a group, equities analysts forecast that Generac Holdings Inc. will post 6.8 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.