Prospera Financial Services Inc Reduces Stock Holdings in Generac Holdings Inc. $GNRC

Prospera Financial Services Inc reduced its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 53.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,596 shares of the technology company’s stock after selling 2,980 shares during the period. Prospera Financial Services Inc’s holdings in Generac were worth $354,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GNRC. MUFG Securities EMEA plc purchased a new stake in shares of Generac during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Generac in the 3rd quarter valued at approximately $26,000. Sentry Investment Management LLC raised its position in shares of Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of Generac in the 3rd quarter valued at approximately $46,000. Finally, IFP Advisors Inc raised its position in shares of Generac by 33.8% in the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock valued at $59,000 after purchasing an additional 110 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group upped their target price on Generac from $270.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Wells Fargo & Company upped their target price on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Bank of America cut their target price on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Citigroup upped their target price on Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $276.88.

Generac Stock Performance

Shares of GNRC opened at $278.17 on Monday. The business’s fifty day moving average price is $230.20 and its 200 day moving average price is $193.64. Generac Holdings Inc. has a 12-month low of $118.09 and a 12-month high of $287.09. The stock has a market capitalization of $16.38 billion, a PE ratio of 87.20, a price-to-earnings-growth ratio of 2.60 and a beta of 1.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current year.

Generac Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.