Arrowstreet Capital Limited Partnership Boosts Stake in Generac Holdings Inc. $GNRC

Arrowstreet Capital Limited Partnership lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 9.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,038,493 shares of the technology company’s stock after acquiring an additional 86,863 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Generac were worth $202,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GNRC. Invesco Ltd. raised its position in Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares in the last quarter. State Street Corp lifted its position in Generac by 2.1% in the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after buying an additional 45,592 shares during the last quarter. Boston Partners lifted its position in Generac by 7.1% in the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after buying an additional 128,439 shares during the last quarter. Geode Capital Management LLC raised its position in Generac by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock worth $202,943,000 after purchasing an additional 6,332 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Generac by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,051,576 shares of the technology company’s stock worth $143,409,000 after purchasing an additional 98,360 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Down 4.0%

Shares of Generac stock opened at $202.13 on Friday. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The company has a 50-day moving average of $256.28 and a 200 day moving average of $222.70. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 63.36, a PEG ratio of 1.97 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

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

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares in the company, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the transaction, the insider owned 15,808 shares in the company, valued at approximately $4,046,848. This represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,100 shares of company stock worth $1,651,443. 2.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GNRC. Stifel Nicolaus set a $275.00 price objective on Generac in a research note on Thursday, April 30th. Barclays boosted their target price on Generac from $228.00 to $285.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Argus increased their target price on Generac from $255.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Roth Capital reaffirmed a “neutral” rating and issued a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.44.

Generac Company 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.