Lord Abbett & CO. LLC Takes $23.41 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Lord Abbett & CO. LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 151,000 shares of the technology company’s stock, valued at approximately $23,413,000. Lord Abbett & CO. LLC owned approximately 0.25% of Generac at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GNRC. Nordea Investment Management AB acquired a new stake in shares of Generac in the fourth quarter valued at $5,229,000. Global Financial Private Client LLC acquired a new stake in Generac in the 4th quarter valued at about $614,000. Franklin Resources Inc. boosted its position in shares of Generac by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock valued at $4,998,000 after purchasing an additional 14,811 shares in the last quarter. Barclays PLC grew its stake in shares of Generac by 41.4% in the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock worth $29,425,000 after purchasing an additional 54,202 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in Generac by 59.1% during the fourth quarter. Dakota Wealth Management now owns 48,998 shares of the technology company’s stock valued at $7,597,000 after purchasing an additional 18,197 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts have issued reports on GNRC shares. Stifel Nicolaus dropped their price target on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Guggenheim upgraded Generac from a “sell” rating to a “neutral” rating in a report on Monday, March 17th. The Goldman Sachs Group decreased their target price on shares of Generac from $193.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Truist Financial cut their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Bank of America started coverage on shares of Generac in a research note on Monday, March 24th. They issued a “buy” rating and a $182.00 price objective for the company. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

Generac Stock Performance

Shares of GNRC opened at $112.97 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $195.94. The company’s fifty day moving average is $124.62 and its 200-day moving average is $151.62. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share 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.

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.