Principal Financial Group Inc. Purchases 20,270 Shares of Generac Holdings Inc. $GNRC

Principal Financial Group Inc. boosted its holdings in Generac Holdings Inc. (NYSE:GNRC) by 30.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,623 shares of the technology company’s stock after buying an additional 20,270 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Generac worth $14,501,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of Generac by 6.2% in the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock valued at $309,000 after acquiring an additional 142 shares during the period. Woodline Partners LP increased its holdings in shares of Generac by 40.9% in the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after purchasing an additional 1,463 shares during the period. KLP Kapitalforvaltning AS raised its position in shares of Generac by 6.9% in the second quarter. KLP Kapitalforvaltning AS now owns 12,400 shares of the technology company’s stock worth $1,776,000 after buying an additional 800 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in Generac during the second quarter worth about $201,000. Finally, CWM LLC boosted its position in shares of Generac by 138.2% during the 2nd quarter. CWM LLC now owns 8,440 shares of the technology company’s stock valued at $1,209,000 after acquiring an additional 4,897 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GNRC. Wells Fargo & Company set a $195.00 target price on shares of Generac in a report on Friday, December 19th. Robert W. Baird raised Generac from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $215.00 to $199.00 in a research note on Friday, January 9th. Citigroup upgraded shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price target for the company in a report on Thursday, January 8th. JPMorgan Chase & Co. upgraded shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price objective on the stock in a research report on Monday, December 8th. Finally, Barclays dropped their target price on shares of Generac from $197.00 to $186.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $195.29.

Generac Stock Performance

Shares of Generac stock opened at $185.93 on Tuesday. The business has a fifty day simple moving average of $157.55 and a two-hundred day simple moving average of $169.23. The firm has a market capitalization of $10.91 billion, a P/E ratio of 35.42, a P/E/G ratio of 1.48 and a beta of 1.85. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $203.25.

Generac Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.