Burgundy Asset Management Ltd. Boosts Stock Position in Generac Holdings Inc. $GNRC

Burgundy Asset Management Ltd. grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 22.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 651,679 shares of the technology company’s stock after buying an additional 117,427 shares during the period. Burgundy Asset Management Ltd. owned 1.11% of Generac worth $93,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. California Public Employees Retirement System raised its holdings in Generac by 8.6% during the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after purchasing an additional 8,213 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Generac by 1.6% during the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after purchasing an additional 816 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Generac by 63.5% during the second quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock worth $107,314,000 after purchasing an additional 291,012 shares in the last quarter. Diametric Capital LP purchased a new stake in shares of Generac in the 2nd quarter valued at about $313,000. Finally, Brown Advisory Inc. boosted its position in shares of Generac by 11.7% in the 2nd quarter. Brown Advisory Inc. now owns 907,349 shares of the technology company’s stock valued at $129,941,000 after purchasing an additional 95,090 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GNRC shares. JPMorgan Chase & Co. boosted their price objective on Generac from $180.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Wall Street Zen downgraded shares of Generac from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Barclays increased their price target on shares of Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Citigroup dropped their price objective on shares of Generac from $217.00 to $207.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Finally, Zacks Research upgraded shares of Generac from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.06.

Insider Activity at Generac

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

Generac Stock Down 0.4%

GNRC stock opened at $162.57 on Friday. The stock has a market capitalization of $9.54 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.82. The company has a fifty day moving average of $165.63 and a 200-day moving average of $162.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.18. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $203.25.

Generac (NYSE:GNRC) last posted its quarterly 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). The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Generac had a return on equity of 17.63% and a net margin of 6.92%.The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.25 earnings per share. As a group, analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

Generac Profile

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.