Mitsubishi UFJ Asset Management Co. Ltd. Reduces Holdings in Generac Holdings Inc. (NYSE:GNRC)

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 1.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 46,165 shares of the technology company’s stock after selling 568 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Generac worth $7,335,000 as of its most recent SEC filing.

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

Generac Price Performance

GNRC stock opened at $126.78 on Tuesday. The firm has a market cap of $7.56 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.44 and a beta of 1.50. The firm’s fifty day moving average is $139.98 and its 200 day moving average is $157.70. Generac Holdings Inc. has a 52 week low of $122.95 and a 52 week high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays began coverage on Generac in a report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price objective on the stock. The Goldman Sachs Group cut their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Piper Sandler cut their price target on shares of Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Citigroup decreased their price target on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.38.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total value of $787,500.00. Following the sale, the chief executive officer now owns 570,825 shares of the company’s stock, valued at $89,904,937.50. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

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.