Wells Fargo & Company MN Has $18.65 Million Holdings in Generac Holdings Inc. (GNRC)

Wells Fargo & Company MN grew its stake in Generac Holdings Inc. (NYSE:GNRC) by 21.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 330,700 shares of the technology company’s stock after purchasing an additional 58,836 shares during the quarter. Wells Fargo & Company MN’s holdings in Generac were worth $18,654,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GNRC. Fuller & Thaler Asset Management Inc. lifted its holdings in Generac by 1.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 78,857 shares of the technology company’s stock valued at $4,079,000 after acquiring an additional 958 shares during the period. Wellington Shields Capital Management LLC increased its position in Generac by 15.9% in the second quarter. Wellington Shields Capital Management LLC now owns 7,300 shares of the technology company’s stock worth $378,000 after buying an additional 1,000 shares in the last quarter. Victory Capital Management Inc. increased its position in Generac by 15.9% in the second quarter. Victory Capital Management Inc. now owns 7,870 shares of the technology company’s stock worth $407,000 after buying an additional 1,081 shares in the last quarter. Amalgamated Bank increased its position in Generac by 13.9% in the second quarter. Amalgamated Bank now owns 9,249 shares of the technology company’s stock worth $478,000 after buying an additional 1,130 shares in the last quarter. Finally, Colony Group LLC increased its position in Generac by 3.4% in the second quarter. Colony Group LLC now owns 34,808 shares of the technology company’s stock worth $1,801,000 after buying an additional 1,145 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $54.70, for a total transaction of $1,094,000.00. Following the completion of the transaction, the chief executive officer now directly owns 843,971 shares of the company’s stock, valued at $46,165,213.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO York A. Ragen sold 36,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $54.84, for a total value of $1,974,240.00. Following the transaction, the chief financial officer now directly owns 185,108 shares of the company’s stock, valued at $10,151,322.72. The disclosure for this sale can be found here. Insiders have sold 141,150 shares of company stock valued at $7,794,048 in the last quarter. 3.00% of the stock is currently owned by company insiders.

GNRC has been the subject of several research analyst reports. Goldman Sachs Group upgraded Generac from a “sell” rating to a “neutral” rating in a research report on Thursday, October 18th. ValuEngine cut Generac from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Robert W. Baird increased their target price on Generac from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. KeyCorp increased their target price on Generac from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, September 13th. Finally, Canaccord Genuity increased their target price on Generac from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.98.

NYSE:GNRC opened at $56.92 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.88 and a quick ratio of 0.98. Generac Holdings Inc. has a 12-month low of $42.96 and a 12-month high of $60.70. The stock has a market cap of $3.53 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35.

Generac (NYSE:GNRC) last released its earnings results on Thursday, November 1st. The technology company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.35. Generac had a return on equity of 47.44% and a net margin of 12.45%. The firm had revenue of $559.52 million during the quarter, compared to analysts’ expectations of $502.94 million. During the same quarter last year, the business posted $0.92 earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis. As a group, research analysts anticipate that Generac Holdings Inc. will post 4.66 EPS for the current year.

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Generac Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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