Massachusetts Financial Services Co. MA Takes $70.74 Million Position in Generac Holdings Inc. $GNRC

Massachusetts Financial Services Co. MA acquired a new position in Generac Holdings Inc. (NYSE:GNRC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 422,605 shares of the technology company’s stock, valued at approximately $70,744,000. Massachusetts Financial Services Co. MA owned 0.72% of Generac at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GNRC. Maryland State Retirement & Pension System boosted its holdings in shares of Generac by 12.1% in the third quarter. Maryland State Retirement & Pension System now owns 3,086 shares of the technology company’s stock worth $517,000 after acquiring an additional 334 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Generac by 10.5% during the third quarter. Sequoia Financial Advisors LLC now owns 4,267 shares of the technology company’s stock valued at $714,000 after buying an additional 407 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Generac by 24.1% in the third quarter. Stephens Investment Management Group LLC now owns 290,854 shares of the technology company’s stock worth $48,689,000 after buying an additional 56,427 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in Generac by 6.5% during the third quarter. Pinnacle Financial Partners Inc now owns 58,081 shares of the technology company’s stock valued at $9,723,000 after acquiring an additional 3,530 shares in the last quarter. Finally, Nwam LLC increased its holdings in Generac by 6.7% during the 3rd quarter. Nwam LLC now owns 1,221 shares of the technology company’s stock worth $224,000 after acquiring an additional 77 shares during the period. Institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total value of $832,150.00. Following the transaction, the chief executive officer owned 542,966 shares in the company, valued at approximately $90,365,831.38. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GNRC. Canaccord Genuity Group reduced their price target on shares of Generac from $240.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Roth Capital set a $184.00 price target on Generac and gave the company a “neutral” rating in a research report on Thursday, October 30th. Needham & Company LLC began coverage on shares of Generac in a research report on Monday, January 12th. They set a “buy” rating and a $211.00 target price for the company. JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target on the stock in a report on Monday, December 8th. Finally, Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price objective for the company in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.29.

Generac Stock Performance

NYSE GNRC opened at $162.12 on Wednesday. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.31 and a beta of 1.82. The company has a 50-day simple moving average of $150.42 and a two-hundred day simple moving average of $166.91. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $203.25.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm posted $2.25 EPS. The company’s revenue was down 5.0% on a year-over-year basis. On average, equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current 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.