Generac Holdings Inc. $GNRC Shares Bought by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. increased its position in Generac Holdings Inc. (NYSE:GNRC) by 22.0% during the second quarter, HoldingsChannel.com reports. The fund owned 651,679 shares of the technology company’s stock after acquiring an additional 117,427 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Generac were worth $93,327,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GNRC. New York Life Investment Management LLC grew its holdings in Generac by 0.7% in the second quarter. New York Life Investment Management LLC now owns 7,924 shares of the technology company’s stock valued at $1,135,000 after purchasing an additional 58 shares during the last quarter. Pine Haven Investment Counsel Inc lifted its holdings in shares of Generac by 2.7% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,861 shares of the technology company’s stock valued at $410,000 after purchasing an additional 75 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Generac by 81.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock valued at $25,000 after purchasing an additional 77 shares during the last quarter. Covestor Ltd increased its stake in shares of Generac by 16.2% during the 1st quarter. Covestor Ltd now owns 596 shares of the technology company’s stock worth $75,000 after purchasing an additional 83 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its stake in shares of Generac by 4.1% during the 2nd quarter. Fiduciary Alliance LLC now owns 2,259 shares of the technology company’s stock worth $324,000 after purchasing an additional 89 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total transaction of $832,150.00. Following the completion of the sale, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at $90,365,831.38. The trade was a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a report on Wednesday, October 8th. Roth Capital set a $184.00 price objective on Generac and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $240.00 target price on shares of Generac in a research note on Thursday, October 30th. Needham & Company LLC initiated coverage on shares of Generac in a research note on Wednesday, October 22nd. They set a “buy” rating and a $248.00 price target on the stock. Finally, Guggenheim lowered their price target on shares of Generac from $210.00 to $202.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Thirteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average price target of $191.06.

Generac Stock Down 0.4%

GNRC opened at $162.57 on Friday. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $203.25. The business has a 50-day moving average of $165.63 and a two-hundred day moving average of $162.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.18 and a quick ratio of 1.02. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.82.

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

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.