Forest Avenue Capital Management LP Invests $49.31 Million in Generac Holdings Inc. (NYSE:GNRC)

Forest Avenue Capital Management LP bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the 4th quarter, Holdings Channel.com reports. The firm bought 318,046 shares of the technology company’s stock, valued at approximately $49,313,000. Generac makes up approximately 4.5% of Forest Avenue Capital Management LP’s holdings, making the stock its 11th largest position.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Generac in the fourth quarter valued at $90,913,000. Boston Partners raised its position in shares of Generac by 39.0% during the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock worth $295,123,000 after purchasing an additional 533,612 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after purchasing an additional 469,575 shares during the period. Jennison Associates LLC lifted its holdings in shares of Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after purchasing an additional 384,434 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Generac in the 4th quarter valued at $46,785,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GNRC shares. Citigroup reduced their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Piper Sandler reduced their price target on shares of Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. UBS Group lifted their price objective on shares of Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company reduced their target price on Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their target price on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.60.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares in the company, valued at approximately $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Generac Stock Up 1.6 %

Generac stock opened at $110.15 on Monday. The company has a market capitalization of $6.57 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.44 and a beta of 1.58. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $195.94. The firm’s fifty day simple moving average is $131.34 and its 200-day simple moving average is $155.16. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48.

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

Generac Company Profile

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.