Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Generac Holdings Inc. (NYSE:GNRC) by 46.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,289 shares of the technology company’s stock after selling 10,540 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Generac were worth $1,550,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ICA Group Wealth Management LLC acquired a new position in Generac in the 4th quarter valued at about $27,000. BKM Wealth Management LLC purchased a new position in shares of Generac in the 4th quarter valued at about $28,000. ORG Partners LLC purchased a new position in shares of Generac in the 4th quarter valued at about $38,000. Quarry LP boosted its stake in shares of Generac by 219.6% in the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after buying an additional 202 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of Generac by 89.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock valued at $40,000 after buying an additional 147 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Price Performance

Generac stock opened at $138.03 on Friday. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $156.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97. The business has a 50 day simple moving average of $140.16 and a 200-day simple moving average of $128.38. The stock has a market capitalization of $8.37 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 1.86 and a beta of 1.37.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.72 by $0.16. The business had revenue of $889.27 million during the quarter, compared to analysts’ expectations of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities analysts predict that Generac Holdings Inc. will post 6.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Patrick John Forsythe sold 65,855 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total value of $9,601,659.00. Following the completion of the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total transaction of $699,750.00. Following the sale, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total value of $9,601,659.00. Following the sale, the insider now directly owns 19,815 shares in the company, valued at approximately $2,889,027. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,785 shares of company stock worth $11,720,411. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GNRC shares. Truist Financial lifted their price objective on Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. StockNews.com cut Generac from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $149.00 price objective on shares of Generac in a research note on Thursday, May 23rd. Canaccord Genuity Group lifted their price objective on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Canaccord Genuity Group upped their price target on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $141.67.

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.