Ninety One UK Ltd Takes $46.91 Million Position in Generac Holdings Inc. $GNRC

Ninety One UK Ltd acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 280,228 shares of the technology company’s stock, valued at approximately $46,910,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York Life Investment Management LLC raised its stake 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 buying an additional 58 shares in the last quarter. Beacon Investment Advisors LLC boosted its position in shares of Generac by 0.3% during the 2nd quarter. Beacon Investment Advisors LLC now owns 26,226 shares of the technology company’s stock worth $3,735,000 after acquiring an additional 70 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in shares of Generac by 2.7% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,861 shares of the technology company’s stock valued at $410,000 after acquiring an additional 75 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Generac by 81.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock valued at $25,000 after acquiring an additional 77 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its position 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 acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GNRC shares. Guggenheim lowered their price target on Generac from $210.00 to $202.00 and set a “buy” rating for the company in a report on Thursday, October 9th. JPMorgan Chase & Co. upgraded shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price for the company in a report on Monday, December 8th. Roth Capital set a $184.00 target price on shares of 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 note on Wednesday, October 22nd. They set a “buy” rating and a $248.00 price target on the stock. Finally, Citigroup decreased their price objective on shares of Generac from $217.00 to $207.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.11.

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, 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 directly owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. The trade was a 0.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company insiders.

Generac Stock Performance

NYSE GNRC opened at $136.33 on Thursday. The business’s 50-day moving average price is $155.30 and its 200 day moving average price is $165.28. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. The firm has a market cap of $8.00 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.37 and a beta of 1.82. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25.

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