Principal Financial Group Inc. Increases Holdings in Generac Holdings Inc. (NYSE:GNRC)

Principal Financial Group Inc. raised its position in Generac Holdings Inc. (NYSE:GNRC) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,691 shares of the technology company’s stock after acquiring an additional 2,419 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Generac worth $11,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GNRC. Modus Advisors LLC purchased a new position in shares of Generac during the 4th quarter valued at about $27,000. Versant Capital Management Inc raised its stake in Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after acquiring an additional 145 shares during the period. Cranbrook Wealth Management LLC purchased a new position in Generac during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new position in shares of Generac in the third quarter worth approximately $31,000. Finally, SouthState Corp bought a new position in shares of Generac in the third quarter worth approximately $32,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the sale, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GNRC shares. TD Cowen lifted their target price on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler lowered their price objective on Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group cut their target price on Generac from $193.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays initiated coverage on Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price on the stock. Finally, Robert W. Baird cut their price objective on shares of Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $174.00.

Generac Stock Down 1.9 %

Shares of GNRC stock opened at $136.45 on Friday. Generac Holdings Inc. has a twelve month low of $109.90 and a twelve month high of $195.94. The stock has a market cap of $8.13 billion, a P/E ratio of 25.27, a P/E/G ratio of 1.44 and a beta of 1.42. The stock has a 50 day moving average of $151.80 and a 200 day moving average of $160.41. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, sell-side analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

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.