Principal Financial Group Inc. Buys 2,419 Shares of Generac Holdings Inc. (NYSE:GNRC)

Principal Financial Group Inc. raised its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,691 shares of the technology company's stock after acquiring an additional 2,419 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Generac worth $11,426,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted 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 worth $104,227,000 after purchasing an additional 384,434 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Generac by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock valued at $88,944,000 after buying an additional 299,205 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Generac by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 385,584 shares of the technology company's stock worth $61,262,000 after buying an additional 20,576 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of Generac by 25.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 241,114 shares of the technology company's stock worth $37,385,000 after acquiring an additional 48,765 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Generac by 41.4% in the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock valued at $29,425,000 after acquiring an additional 54,202 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

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Generac Trading Down 4.1 %

Shares of GNRC traded down $5.63 during midday trading on Monday, hitting $130.52. The stock had a trading volume of 543,021 shares, compared to its average volume of 846,268. The business has a 50-day simple moving average of $151.00 and a two-hundred day simple moving average of $160.41. The firm has a market cap of $7.78 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a fifty-two week low of $109.90 and a fifty-two week high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 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%. As a group, equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 565,825 shares of the company's stock, valued at approximately $82,129,498.75. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GNRC shares. Barclays started coverage on Generac in a research note on Wednesday, December 4th. They set an "equal weight" rating and a $189.00 price objective on the stock. Robert W. Baird decreased their price target on shares of Generac from $172.00 to $171.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Wells Fargo & Company dropped their price objective on shares of Generac from $175.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Piper Sandler decreased their target price on Generac from $185.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Finally, Citigroup cut their price target on Generac from $172.00 to $162.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Generac has a consensus rating of "Moderate Buy" and an average price target of $174.00.

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.