Generac Holdings Inc. (NYSE:GNRC) Stake Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 462.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,147 shares of the technology company’s stock after purchasing an additional 37,947 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of Generac worth $7,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GNRC. Modus Advisors LLC acquired a new position in Generac during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc lifted its stake in Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after buying an additional 145 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Generac during the third quarter valued at $31,000. SouthState Corp bought a new position in shares of Generac during the third quarter worth about $32,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after acquiring an additional 100 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total transaction of $787,500.00. Following the sale, the chief executive officer now directly owns 570,825 shares in the company, valued at $89,904,937.50. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,577,703 over the last quarter. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on GNRC shares. TD Cowen raised their target price on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler raised their price objective on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Truist Financial cut their price objective on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Citigroup dropped their target price on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.30.

Generac Stock Performance

Shares of NYSE GNRC opened at $161.12 on Monday. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company has a market cap of $9.59 billion, a P/E ratio of 33.43, a P/E/G ratio of 1.59 and a beta of 1.42. The business’s 50 day moving average is $170.92 and its two-hundred day moving average is $160.92.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $1.64 earnings per share. On average, equities analysts expect that Generac Holdings Inc. will post 6.91 EPS for the current year.

About Generac

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.