93,860 Shares in Generac Holdings Inc. $GNRC Bought by Eventide Asset Management LLC

Eventide Asset Management LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 93,860 shares of the technology company’s stock, valued at approximately $12,801,000. Eventide Asset Management LLC owned approximately 0.16% of Generac as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GNRC. Bank of Montreal Can lifted its stake in shares of Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after buying an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock valued at $130,825,000 after buying an additional 536,732 shares in the last quarter. Norges Bank bought a new position in shares of Generac in the fourth quarter valued at $68,590,000. Robeco Schweiz AG bought a new position in shares of Generac in the fourth quarter valued at $51,020,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $290.00 price objective on shares of Generac in a research note on Thursday, May 21st. Weiss Ratings raised shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Barclays raised their price objective on shares of Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a research note on Tuesday, June 2nd. Finally, Robert W. Baird set a $311.00 price objective on shares of Generac in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $278.65.

Generac Stock Performance

NYSE GNRC 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 company has a 50-day simple moving average of $243.76 and a 200 day simple 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. The company has a market capitalization of $15.43 billion, a PE ratio of 82.17, a price-to-earnings-growth ratio of 2.45 and a beta of 1.93.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. On average, research analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Generac stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares of the company’s stock, valued at $4,385,564.08. The trade was a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by company 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.