Arrowstreet Capital Limited Partnership Decreases Position in Generac Holdings Inc. $GNRC

Arrowstreet Capital Limited Partnership trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 13.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 951,630 shares of the technology company’s stock after selling 152,732 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Generac were worth $129,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of GNRC. NewEdge Advisors LLC boosted its holdings in Generac by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after buying an additional 142 shares during the last quarter. Woodline Partners LP grew its stake in shares of Generac by 40.9% during the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after purchasing an additional 1,463 shares in the last quarter. First Trust Advisors LP lifted its position in Generac by 27.6% in the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock valued at $14,507,000 after acquiring an additional 21,908 shares during the last quarter. Cerity Partners LLC lifted its position in Generac by 1.6% in the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock valued at $7,239,000 after acquiring an additional 816 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Generac by 8.6% in the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock valued at $14,929,000 after buying an additional 8,213 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Up 2.9%

Shares of NYSE GNRC opened at $269.84 on Tuesday. The firm has a 50 day moving average price of $245.27 and a 200 day moving average price of $202.79. 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 Holdings Inc. has a 52-week low of $123.94 and a 52-week high of $294.18. The stock has a market cap of $15.89 billion, a P/E ratio of 84.59, a P/E/G ratio of 2.45 and a beta of 1.93.

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

Wall Street Analysts Forecast Growth

GNRC has been the topic of several research reports. TD Cowen increased their price target on shares of Generac from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Canaccord Genuity Group increased their price target on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group boosted their target price on shares of Generac from $305.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday. Barclays boosted their price target on shares of Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, March 27th. Finally, Zacks Research downgraded shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $278.65.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm’s 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 transaction, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by corporate insiders.

Generac Profile

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.