Millennium Capital Advisors LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund acquired 2,766 shares of the technology company’s stock, valued at approximately $377,000.
A number of other large investors have also recently made changes to their positions in the business. State Street Corp lifted its stake in shares of Generac by 2.1% in the second quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after buying an additional 45,592 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares in the last quarter. Boston Partners lifted its stake in shares of Generac by 7.1% in the third quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after buying an additional 128,439 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Generac by 20.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company’s stock valued at $184,870,000 after buying an additional 189,457 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock valued at $130,825,000 after buying an additional 536,732 shares in the last quarter. 84.04% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on GNRC shares. Argus raised their price objective on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Roth Mkm reissued a “neutral” rating and set a $257.00 price target on shares of Generac in a research report on Thursday, April 30th. Guggenheim reissued a “neutral” rating and set a $202.00 price target on shares of Generac in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.31.
Generac Stock Down 4.4%
GNRC opened at $264.31 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The company’s 50-day moving average is $218.65 and its 200 day moving average is $186.67. Generac Holdings Inc. has a fifty-two week low of $118.09 and a fifty-two week high of $276.80. The firm has a market capitalization of $15.56 billion, a P/E ratio of 82.86, a PEG ratio of 2.47 and a beta of 1.93.
Generac (NYSE:GNRC – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm earned $1.26 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Research analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Generac news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.
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.
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