Principal Financial Group Inc. Purchases 20,270 Shares of Generac Holdings Inc. $GNRC

Principal Financial Group Inc. boosted its holdings in Generac Holdings Inc. (NYSE:GNRC) by 30.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,623 shares of the technology company’s stock after acquiring an additional 20,270 shares during the quarter. Principal Financial Group Inc.’s holdings in Generac were worth $14,501,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. MUFG Securities EMEA plc purchased a new position in Generac in the 2nd quarter worth about $25,000. First Horizon Corp bought a new stake in shares of Generac in the third quarter worth approximately $28,000. Quent Capital LLC purchased a new position in shares of Generac during the third quarter valued at approximately $41,000. Red Tortoise LLC bought a new position in Generac during the third quarter valued at approximately $42,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Generac in the third quarter worth approximately $42,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of Generac stock opened at $185.93 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $203.25. The stock’s 50-day simple moving average is $157.55 and its 200-day simple moving average is $169.23. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 1.48 and a beta of 1.85.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GNRC. JPMorgan Chase & Co. raised Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target on the stock in a report on Monday, December 8th. Roth Mkm set a $184.00 price target on shares of Generac and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Bank of America reduced their price objective on Generac from $236.00 to $224.00 and set a “buy” rating for the company in a research note on Wednesday, January 7th. Needham & Company LLC assumed coverage on Generac in a research report on Monday, January 12th. They set a “buy” rating and a $211.00 target price on the stock. Finally, Canaccord Genuity Group reduced their price target on Generac from $240.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.29.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.