Vestcor Inc raised its position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 453.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,144 shares of the technology company’s stock after purchasing an additional 5,033 shares during the quarter. Vestcor Inc’s holdings in Generac were worth $838,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after purchasing an additional 45,592 shares during the period. Victory Capital Management Inc. grew its position in shares of Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after buying an additional 324,809 shares during the period. Boston Partners grew its position in shares of Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after buying an additional 128,439 shares during the period. Geode Capital Management LLC grew its position in shares of Generac by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock worth $202,943,000 after buying an additional 6,332 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Generac by 20.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company’s stock worth $184,870,000 after buying an additional 189,457 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.
Generac Price Performance
Shares of GNRC opened at $265.47 on Tuesday. Generac Holdings Inc. has a 12-month low of $123.66 and a 12-month high of $294.18. The business’s fifty day moving average is $238.81 and its 200 day moving average is $198.82. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.63 billion, a P/E ratio of 83.22, a P/E/G ratio of 2.45 and a beta of 1.93.
Insiders Place Their Bets
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several analysts have recently commented on GNRC shares. Guggenheim reaffirmed a “neutral” rating and set a $202.00 price objective on shares of Generac in a research report on Tuesday, February 10th. Argus raised their price objective on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Canaccord Genuity Group raised their price objective on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Barclays raised their price objective on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.88.
Check Out Our Latest Analysis on GNRC
About Generac
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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