Allspring Global Investments Holdings LLC Has $28.74 Million Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 819.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 183,254 shares of the technology company’s stock after acquiring an additional 163,323 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Generac were worth $28,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Trust N.A. increased its stake in shares of Generac by 52.8% in the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock worth $541,000 after acquiring an additional 1,177 shares during the last quarter. Nordea Investment Management AB acquired a new position in Generac in the 4th quarter worth about $5,229,000. Global Financial Private Client LLC purchased a new stake in shares of Generac during the 4th quarter worth about $614,000. Principal Financial Group Inc. lifted its holdings in shares of Generac by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after buying an additional 3,426 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Generac by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock valued at $4,998,000 after buying an additional 14,811 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Trading Down 0.0 %

Generac stock opened at $146.80 on Friday. The business has a 50 day moving average price of $156.31 and a two-hundred day moving average price of $160.57. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%. As a group, equities analysts forecast that Generac Holdings Inc. will post 6.91 EPS for the current year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total transaction of $787,500.00. Following the completion of the transaction, the chief executive officer now owns 570,825 shares in the company, valued at $89,904,937.50. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

GNRC has been the topic of several recent research reports. Roth Mkm raised their price objective on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group reduced their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday. Robert W. Baird decreased 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. Citigroup cut their target price on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price target on Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.00.

Generac 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.