Geode Capital Management LLC Acquires 14,844 Shares of Generac Holdings Inc. (NYSE:GNRC)

Geode Capital Management LLC raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,441,772 shares of the technology company's stock after acquiring an additional 14,844 shares during the quarter. Geode Capital Management LLC owned approximately 2.42% of Generac worth $223,293,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Modus Advisors LLC acquired a new position in Generac during the fourth quarter worth $27,000. Versant Capital Management Inc grew its holdings in Generac by 391.9% during the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company's stock worth $28,000 after purchasing an additional 145 shares during the period. Cranbrook Wealth Management LLC acquired a new position in Generac during the fourth quarter worth approximately $28,000. Bank of Jackson Hole Trust bought a new stake in Generac in the fourth quarter valued at approximately $31,000. Finally, Spire Wealth Management lifted its position in shares of Generac by 203.6% in the fourth quarter. Spire Wealth Management now owns 252 shares of the technology company's stock valued at $39,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the sale, the chief executive officer now directly owns 565,825 shares of the company's stock, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.90% of the company's stock.

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Generac Stock Down 7.1 %

Shares of GNRC stock traded down $8.12 on Thursday, reaching $106.53. 361,305 shares of the company were exchanged, compared to its average volume of 892,911. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.44 and a beta of 1.58. The company has a 50-day moving average of $132.70 and a 200-day moving average of $155.69.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on GNRC. Stifel Nicolaus cut their price objective on shares of Generac from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Robert W. Baird reduced their price target on Generac from $172.00 to $171.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. UBS Group increased their price objective on Generac from $200.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Truist Financial decreased their price target on shares of Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Generac from $193.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $175.60.

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.