Mufg Securities Americas Inc. Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

Mufg Securities Americas Inc. purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 878 shares of the technology company’s stock, valued at approximately $136,000.

A number of other large investors have also made changes to their positions in GNRC. Barclays PLC increased its position in shares of Generac by 41.4% during the third quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock worth $29,425,000 after purchasing an additional 54,202 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Generac by 5.0% during the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock worth $11,324,000 after purchasing an additional 3,426 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Generac by 462.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 46,147 shares of the technology company’s stock worth $7,155,000 after purchasing an additional 37,947 shares in the last quarter. Carnegie Investment Counsel increased its position in shares of Generac by 11.2% during the fourth quarter. Carnegie Investment Counsel now owns 28,080 shares of the technology company’s stock worth $4,354,000 after purchasing an additional 2,834 shares in the last quarter. Finally, Merit Financial Group LLC increased its position in shares of Generac by 18.9% during the fourth quarter. Merit Financial Group LLC now owns 2,192 shares of the technology company’s stock worth $340,000 after purchasing an additional 349 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Trading Up 1.6%

GNRC stock opened at $129.55 on Friday. The company’s 50-day simple moving average is $120.06 and its 200-day simple moving average is $146.60. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The firm has a market cap of $7.65 billion, a P/E ratio of 23.99, a PEG ratio of 1.44 and a beta of 1.73.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a net margin of 7.36% and a return on equity of 18.17%. The business had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GNRC. TD Securities reduced their price target on Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Piper Sandler cut their target price on Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Canaccord Genuity Group cut their target price on Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. TD Cowen cut their target price on Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut their target price on Generac from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.20.

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.