Nisa Investment Advisors LLC boosted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,490 shares of the technology company’s stock after purchasing an additional 140 shares during the period. Nisa Investment Advisors LLC’s holdings in Generac were worth $753,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nuveen Asset Management LLC bought a new position in Generac in the 2nd quarter worth $51,217,000. Scout Investments Inc. bought a new stake in shares of Generac during the 3rd quarter valued at about $40,399,000. Invesco Ltd. boosted its stake in shares of Generac by 601.6% during the 2nd quarter. Invesco Ltd. now owns 589,050 shares of the technology company’s stock valued at $40,887,000 after purchasing an additional 505,093 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in shares of Generac during the third quarter valued at about $27,775,000. Finally, Stifel Financial Corp purchased a new position in shares of Generac during the third quarter valued at about $14,933,000. 96.43% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on GNRC shares. Oppenheimer upgraded shares of Generac from a “market perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a report on Thursday, January 23rd. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Wednesday, December 18th. Canaccord Genuity set a $95.00 target price on Generac and gave the stock a “hold” rating in a research report on Friday, November 1st. Bank of America cut Generac from a “buy” rating to a “neutral” rating and set a $108.00 target price for the company. in a research note on Friday, November 1st. Finally, Northcoast Research raised their target price on Generac from $93.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Generac presently has a consensus rating of “Buy” and an average price target of $107.50.
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $100.73, for a total transaction of $503,650.00. Following the completion of the transaction, the chief executive officer now owns 670,943 shares of the company’s stock, valued at $67,584,088.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.
NYSE:GNRC opened at $104.98 on Tuesday. The firm’s 50-day moving average price is $101.65 and its 200-day moving average price is $87.18. The company has a market capitalization of $6.67 billion, a PE ratio of 21.51, a P/E/G ratio of 3.12 and a beta of 1.18. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.39 and a quick ratio of 1.30. Generac Holdings Inc. has a 1-year low of $49.15 and a 1-year high of $107.63.
Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Generac had a net margin of 11.85% and a return on equity of 36.32%. The company had revenue of $601.14 million during the quarter, compared to analysts’ expectations of $583.14 million. During the same period last year, the company posted $1.43 EPS. Generac’s revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Generac Holdings Inc. will post 4.91 EPS for the current fiscal year.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
See Also: Hedge Funds Explained
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.