Eventide Asset Management LLC Invests $12.80 Million in Generac Holdings Inc. $GNRC

Eventide Asset Management LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, Holdings Channel.com reports. The firm acquired 93,860 shares of the technology company’s stock, valued at approximately $12,801,000.

Other large investors also recently modified their holdings of the company. DAVENPORT & Co LLC boosted its position in shares of Generac by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after acquiring an additional 16,229 shares during the period. Private Advisory Group LLC boosted its position in shares of Generac by 26.2% in the fourth quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company’s stock valued at $8,016,000 after acquiring an additional 12,191 shares during the period. Lighthouse Investment Partners LLC boosted its position in shares of Generac by 556.7% in the third quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock valued at $8,689,000 after acquiring an additional 43,999 shares during the period. Kayne Anderson Capital Advisors LP bought a new position in shares of Generac in the third quarter valued at approximately $2,159,000. Finally, Altman Advisors Inc. bought a new position in shares of Generac in the third quarter valued at approximately $1,807,000. 84.04% of the stock is currently owned by institutional investors.

Generac Price Performance

Shares of Generac stock opened at $262.13 on Monday. Generac Holdings Inc. has a 52-week low of $123.66 and a 52-week high of $294.18. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 82.17, a price-to-earnings-growth ratio of 2.45 and a beta of 1.93. The company has a fifty day moving average of $243.76 and a 200-day moving average of $201.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 EPS. Equities research analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on GNRC. UBS Group raised their price objective on shares of Generac from $305.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Roth Mkm restated a “neutral” rating and issued a $257.00 price objective on shares of Generac in a research report on Thursday, April 30th. Canaccord Genuity Group raised their price objective on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Raymond James Financial set a $302.00 price objective on shares of Generac in a research report on Friday, May 22nd. Finally, Argus lifted their target price on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.65.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the transaction, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.

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.