Ninety One UK Ltd Increases Position in Generac Holdings Inc. (NYSE:GNRC)

Ninety One UK Ltd raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 13.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 476,897 shares of the technology company’s stock after purchasing an additional 56,169 shares during the quarter. Ninety One UK Ltd owned 0.78% of Generac worth $61,634,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Parkside Financial Bank & Trust boosted its position in Generac by 1,066.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 140 shares of the technology company’s stock valued at $42,000 after buying an additional 128 shares during the period. Comerica Bank bought a new stake in Generac during the 2nd quarter valued at $230,000. BKM Wealth Management LLC purchased a new stake in shares of Generac in the 4th quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of Generac during the 3rd quarter worth $28,000. Finally, Castleview Partners LLC purchased a new position in shares of Generac during the first quarter valued at $30,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

Generac stock traded up $2.21 during mid-day trading on Thursday, reaching $132.46. 683,221 shares of the company were exchanged, compared to its average volume of 1,014,891. The firm’s 50-day simple moving average is $120.92 and its two-hundred day simple moving average is $115.54. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $156.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 2.27. The firm has a market cap of $7.98 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 1.71 and a beta of 1.45.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 14th. The technology company reported $2.07 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). Generac had a net margin of 5.33% and a return on equity of 14.15%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business posted $1.78 EPS. Generac’s revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Generac Holdings Inc. will post 6.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim downgraded shares of Generac from a “buy” rating to a “neutral” rating in a report on Thursday, February 15th. Canaccord Genuity Group lifted their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Citigroup raised their price target on shares of Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Robert W. Baird upped their target price on Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, UBS Group dropped their price target on Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.80.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the transaction, the chief executive officer now owns 592,177 shares of the company’s stock, valued at approximately $75,170,948.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by insiders.

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.