Prudential Financial Inc. Has $4.96 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Prudential Financial Inc. cut its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,962 shares of the technology company’s stock after selling 12,542 shares during the period. Prudential Financial Inc.’s holdings in Generac were worth $4,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Modus Advisors LLC bought a new stake in Generac in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc raised its stake in Generac by 391.9% in the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after acquiring an additional 145 shares during the period. Cranbrook Wealth Management LLC acquired a new stake in Generac during the 4th quarter valued at $28,000. Bank of Jackson Hole Trust bought a new position in Generac during the fourth quarter worth $31,000. Finally, Spire Wealth Management increased its holdings in shares of Generac by 203.6% in the fourth quarter. Spire Wealth Management now owns 252 shares of the technology company’s stock valued at $39,000 after purchasing an additional 169 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GNRC shares. Wells Fargo & Company reduced their target price on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Citigroup reduced their price target on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial lowered their price objective on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Bank of America initiated coverage on shares of Generac in a research report on Monday, March 24th. They issued a “buy” rating and a $182.00 target price for the company. Finally, Stifel Nicolaus lowered their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy 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 $174.38.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $82,129,498.75. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Generac Price Performance

Shares of GNRC stock opened at $126.78 on Tuesday. Generac Holdings Inc. has a twelve month low of $122.95 and a twelve month high of $195.94. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $139.98 and a 200 day simple moving average of $157.70. The company has a market cap of $7.56 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. On average, sell-side analysts forecast 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.