Generac Holdings Inc. (NYSE:GNRC) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 106.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,772 shares of the technology company’s stock after purchasing an additional 14,811 shares during the period. Franklin Resources Inc.’s holdings in Generac were worth $4,998,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James Trust N.A. increased its holdings in shares of Generac by 12.2% in the 2nd quarter. Raymond James Trust N.A. now owns 2,230 shares of the technology company’s stock valued at $295,000 after purchasing an additional 243 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Generac by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 389,227 shares of the technology company’s stock valued at $51,464,000 after buying an additional 12,806 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Generac by 217.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 39,008 shares of the technology company’s stock valued at $5,158,000 after acquiring an additional 26,719 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Generac by 7.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 33,262 shares of the technology company’s stock worth $4,398,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Generac in the 2nd quarter worth approximately $305,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Price Performance

GNRC stock opened at $154.28 on Tuesday. The stock has a 50-day moving average price of $175.99 and a two-hundred day moving average price of $158.15. The company has a market cap of $9.18 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 2.09 and a beta of 1.39. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. As a group, research analysts predict that Generac Holdings Inc. will post 6.84 EPS for the current year.

Analysts Set New Price Targets

GNRC has been the topic of a number of research analyst reports. Robert W. Baird decreased their target price on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. TD Cowen increased their price objective 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. Barclays initiated coverage on shares of Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. Citigroup increased their price target on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Roth Mkm upped their target price on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Insider Activity at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by corporate insiders.

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.