IFM Investors Pty Ltd Grows Stock Position in Generac Holdings Inc. (NYSE:GNRC)

IFM Investors Pty Ltd raised its holdings in Generac Holdings Inc. (NYSE:GNRCGet Rating) by 18.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,474 shares of the technology company’s stock after buying an additional 1,460 shares during the quarter. IFM Investors Pty Ltd’s holdings in Generac were worth $2,816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in shares of Generac by 2.9% in the fourth quarter. D.A. Davidson & CO. now owns 1,952 shares of the technology company’s stock worth $689,000 after purchasing an additional 55 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Generac by 6.9% in the fourth quarter. Qube Research & Technologies Ltd now owns 13,362 shares of the technology company’s stock worth $4,702,000 after purchasing an additional 861 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Generac by 5.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 13,254 shares of the technology company’s stock worth $4,664,000 after purchasing an additional 720 shares during the last quarter. FDx Advisors Inc. raised its stake in shares of Generac by 34.7% in the fourth quarter. FDx Advisors Inc. now owns 1,363 shares of the technology company’s stock worth $480,000 after purchasing an additional 351 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. raised its stake in shares of Generac by 28.2% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 977 shares of the technology company’s stock worth $344,000 after purchasing an additional 215 shares during the last quarter. 88.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the transaction, the chief executive officer now owns 610,975 shares in the company, valued at $161,883,936. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GNRC shares. Robert W. Baird raised their price objective on Generac from $250.00 to $275.00 in a research note on Thursday. TheStreet lowered Generac from a “b-” rating to a “c+” rating in a report on Tuesday, July 12th. Wells Fargo & Company started coverage on Generac in a report on Wednesday, June 29th. They set an “overweight” rating and a $285.00 target price on the stock. Truist Financial dropped their target price on Generac from $425.00 to $365.00 in a report on Thursday. Finally, Roth Capital dropped their target price on Generac from $555.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $424.71.

Generac Stock Performance

Shares of NYSE:GNRC opened at $248.13 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.13 and a quick ratio of 0.71. The business’s 50 day moving average price is $239.10 and its 200-day moving average price is $262.52. The firm has a market capitalization of $15.84 billion, a PE ratio of 32.02, a P/E/G ratio of 2.12 and a beta of 1.28. Generac Holdings Inc. has a 1 year low of $197.94 and a 1 year high of $524.31.

Generac (NYSE:GNRCGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The technology company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. Generac had a return on equity of 29.42% and a net margin of 12.28%. The business’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 earnings per share. As a group, equities research analysts expect that Generac Holdings Inc. will post 11.75 earnings per share for the current fiscal year.

About Generac

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

See Also

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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