Nitorum Capital L.P. Increases Stake in Generac Holdings Inc. (NYSE:GNRC)

Nitorum Capital L.P. raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 31.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 199,689 shares of the technology company's stock after purchasing an additional 47,589 shares during the period. Generac accounts for about 3.6% of Nitorum Capital L.P.'s portfolio, making the stock its 13th largest position. Nitorum Capital L.P. owned 0.34% of Generac worth $30,962,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GNRC. Norges Bank acquired a new stake in shares of Generac during the fourth quarter worth $90,913,000. Boston Partners raised its stake in 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 acquiring an additional 533,612 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Generac by 81.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company's stock worth $161,684,000 after acquiring an additional 469,575 shares during the last quarter. Jennison Associates LLC raised its stake in Generac by 133.6% in the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company's stock worth $104,227,000 after acquiring an additional 384,434 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new position in Generac in the 4th quarter worth $49,313,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total transaction of $725,750.00. Following the sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on Generac from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Robert W. Baird reduced their target price on Generac from $172.00 to $171.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Citigroup upgraded Generac from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $162.00 to $138.00 in a research note on Thursday, April 17th. Bank of America initiated coverage on Generac in a research note on Monday, March 24th. They issued a "buy" rating and a $182.00 target price for the company. Finally, Wells Fargo & Company reduced their target price 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 research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.40.

Generac Price Performance

GNRC stock traded up $0.53 during trading on Monday, hitting $113.42. The stock had a trading volume of 733,267 shares, 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. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $195.94. The stock has a market capitalization of $6.76 billion, a P/E ratio of 21.00, a PEG ratio of 1.44 and a beta of 1.58. The company's 50-day moving average price is $124.05 and its two-hundred day moving average price is $151.09.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, research analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal 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.