Alliancebernstein L.P. Has $57.44 Million Holdings in Generac Holdings Inc. (NYSE:GNRC)

Alliancebernstein L.P. raised its stake in Generac Holdings Inc. (NYSE:GNRC) by 19.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 370,477 shares of the technology company’s stock after buying an additional 61,481 shares during the quarter. Alliancebernstein L.P. owned 0.62% of Generac worth $57,442,000 as of its most recent filing with the Securities and Exchange Commission.

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

Generac Stock Down 3.2 %

NYSE:GNRC opened at $111.97 on Friday. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. 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 twelve month low of $105.41 and a twelve month high of $195.94. The stock’s 50 day moving average price is $136.90 and its two-hundred day moving average price is $156.90.

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

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’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 transaction of $725,750.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Guggenheim raised Generac from a “sell” rating to a “neutral” rating in a research note on Monday, March 17th. UBS Group increased their target price on Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup cut their price target on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler cut their price objective on shares of Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.38.

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.