Raymond James Financial Inc. Acquires Shares of 301,739 Generac Holdings Inc. (NYSE:GNRC)

Raymond James Financial Inc. acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 301,739 shares of the technology company’s stock, valued at approximately $46,785,000.

A number of other hedge funds have also recently bought and sold shares of GNRC. Jennison Associates LLC boosted its position in Generac by 133.6% in the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after buying an additional 384,434 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after buying an additional 299,205 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Generac by 819.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 183,254 shares of the technology company’s stock valued at $28,738,000 after buying an additional 163,323 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Generac by 498.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 126,121 shares of the technology company’s stock valued at $19,555,000 after buying an additional 105,063 shares during the last quarter. Finally, Hodges Capital Management Inc. boosted its position in Generac by 86.9% in the 3rd quarter. Hodges Capital Management Inc. now owns 166,278 shares of the technology company’s stock valued at $26,418,000 after buying an additional 77,296 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GNRC has been the topic of a number of analyst reports. Robert W. Baird cut their price target on Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. UBS Group increased their price target on Generac from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Barclays initiated coverage on Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price target on the stock. The Goldman Sachs Group cut their price target on Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial cut their price target on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus price target of $174.00.

Generac Stock Performance

GNRC opened at $131.39 on Wednesday. The business’s 50-day moving average price is $147.68 and its two-hundred day moving average price is $159.37. Generac Holdings Inc. has a 1 year low of $110.35 and a 1 year high of $195.94. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.44 and a beta of 1.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. Equities analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

Generac Profile

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.