Polymer Capital Management HK LTD acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,000 shares of the technology company’s stock, valued at approximately $409,000.
A number of other institutional investors have also added to or reduced their stakes in GNRC. Bank of Montreal Can lifted its holdings in Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after purchasing an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after purchasing an additional 536,732 shares in the last quarter. Norges Bank purchased a new stake in Generac during the 4th quarter worth about $68,590,000. Robeco Schweiz AG purchased a new stake in Generac during the 4th quarter worth about $51,020,000. Finally, Victory Capital Management Inc. lifted its holdings in Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after purchasing an additional 324,809 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GNRC. Bank of America dropped their price objective on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Weiss Ratings raised Generac from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Roth Mkm reissued a “neutral” rating and set a $257.00 price objective on shares of Generac in a report on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. Finally, Stephens reiterated an “overweight” rating and set a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.65.
Insider Buying and Selling
In related news, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the sale, the insider owned 16,108 shares in the company, valued at $4,385,564.08. The trade was a 3.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.40% of the company’s stock.
Generac Stock Performance
NYSE:GNRC opened at $262.13 on Friday. The business has a 50 day moving average of $243.76 and a 200 day moving average of $201.53. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 82.17, a PEG ratio of 2.41 and a beta of 1.93. Generac Holdings Inc. has a 1-year low of $123.66 and a 1-year high of $294.18. 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 – Get Free Report) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.Generac’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. On average, sell-side analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.
About Generac
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.
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