Convergence Investment Partners LLC Acquires Shares of 7,017 Generac Holdings Inc. $GNRC

Convergence Investment Partners LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,017 shares of the technology company’s stock, valued at approximately $1,175,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its position in 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 acquiring an additional 45,592 shares during the period. Invesco Ltd. boosted its stake in shares of Generac by 40.9% in the 2nd quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock valued at $285,338,000 after purchasing an additional 577,933 shares in the last quarter. Ariel Investments LLC boosted its stake in shares of Generac by 11.7% in the 2nd quarter. Ariel Investments LLC now owns 1,804,595 shares of the technology company’s stock valued at $258,436,000 after purchasing an additional 188,717 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Generac by 3.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 914,905 shares of the technology company’s stock worth $131,024,000 after purchasing an additional 33,784 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Generac by 11.7% during the 2nd quarter. Brown Advisory Inc. now owns 907,349 shares of the technology company’s stock worth $129,941,000 after purchasing an additional 95,090 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Trading Up 1.8%

GNRC stock opened at $171.01 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company has a market cap of $10.04 billion, a P/E ratio of 32.57, a PEG ratio of 1.35 and a beta of 1.85. The business has a fifty day moving average of $154.67 and a 200-day moving average of $168.30.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GNRC shares. Roth Mkm set a $184.00 price target on shares of Generac and gave the company a “neutral” rating in a research report on Thursday, October 30th. Barclays reduced their target price on Generac from $197.00 to $186.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Bank of America dropped their price target on Generac from $236.00 to $224.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Canaccord Genuity Group reduced their price objective on Generac from $240.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. upgraded Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price for the company in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.29.

Generac Company 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.