Geode Capital Management LLC Purchases 6,332 Shares of Generac Holdings Inc. $GNRC

Geode Capital Management LLC increased its position in Generac Holdings Inc. (NYSE:GNRC) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,490,876 shares of the technology company’s stock after acquiring an additional 6,332 shares during the quarter. Geode Capital Management LLC’s holdings in Generac were worth $202,943,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Generac in the 3rd quarter worth about $26,000. Sentry Investment Management LLC raised its position in Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Generac in the 2nd quarter worth about $25,000. Hazlett Burt & Watson Inc. purchased a new position in Generac in the 3rd quarter worth about $46,000. Finally, Quarry LP raised its position in Generac by 66.3% in the 3rd quarter. Quarry LP now owns 399 shares of the technology company’s stock worth $67,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Trading Up 5.6%

Shares of Generac stock opened at $284.25 on Wednesday. Generac Holdings Inc. has a fifty-two week low of $120.44 and a fifty-two week high of $294.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The company has a market capitalization of $16.73 billion, a P/E ratio of 89.11, a P/E/G ratio of 2.52 and a beta of 1.93. The company has a fifty day moving average of $231.57 and a 200 day moving average of $194.42.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird set a $311.00 target price on Generac in a research report on Thursday, April 30th. Stifel Nicolaus set a $275.00 target price on Generac in a research report on Thursday, April 30th. Needham & Company LLC reissued a “buy” rating on shares of Generac in a research report on Tuesday. Canaccord Genuity Group boosted their target price on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group raised Generac from a “hold” rating to a “buy” rating and boosted their target price for the stock from $239.00 to $302.00 in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.88.

Generac Profile

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.