Generac Holdings Inc. (NYSE:GNRC) Stock Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Generac Holdings Inc. (NYSE:GNRC) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,272 shares of the technology company’s stock after buying an additional 3,426 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Generac worth $11,324,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GNRC. WoodTrust Financial Corp increased its position in Generac by 1.7% during the third quarter. WoodTrust Financial Corp now owns 15,400 shares of the technology company’s stock worth $2,447,000 after buying an additional 250 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of Generac during the 3rd quarter valued at about $1,088,000. Balentine LLC bought a new position in shares of Generac in the 3rd quarter valued at approximately $468,000. Greenwood Capital Associates LLC lifted its holdings in Generac by 170.6% in the 3rd quarter. Greenwood Capital Associates LLC now owns 4,478 shares of the technology company’s stock worth $711,000 after purchasing an additional 2,823 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Generac by 23.7% during the third quarter. Asset Management One Co. Ltd. now owns 1,147 shares of the technology company’s stock worth $182,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Down 2.4 %

NYSE GNRC opened at $181.82 on Monday. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 2.23 and a beta of 1.37. The stock’s 50 day moving average is $164.01 and its two-hundred day moving average is $151.79. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,268 shares of company stock valued at $7,584,853. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Roth Mkm upped their price target on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Citigroup raised their price target on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price objective on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Truist Financial lifted their price target on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $172.21.

Generac Company Profile

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.