Assenagon Asset Management S.A. Sells 26,496 Shares of Generac Holdings Inc. $GNRC

Assenagon Asset Management S.A. decreased its position in Generac Holdings Inc. (NYSE:GNRC) by 66.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,420 shares of the technology company’s stock after selling 26,496 shares during the period. Assenagon Asset Management S.A.’s holdings in Generac were worth $2,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares during the period. Bank of Montreal Can grew its position in shares of Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after acquiring an additional 639,551 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after purchasing an additional 536,732 shares during the last quarter. Norges Bank purchased a new stake in shares of Generac during the 4th quarter worth approximately $68,590,000. Finally, Robeco Schweiz AG bought a new stake in shares of Generac in the fourth quarter valued at $51,020,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird set a $311.00 price target on Generac in a research note on Thursday, April 30th. Argus raised their target price on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Roth Mkm reaffirmed a “neutral” rating and set a $257.00 target price on shares of Generac in a report on Thursday, April 30th. Bank of America lowered their target price on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, Citigroup boosted their price target on shares of Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.00.

Insider Buying and Selling

In other news, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% of the company’s stock.

Generac Stock Up 3.3%

Shares of NYSE GNRC opened at $293.28 on Wednesday. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The stock has a market capitalization of $17.27 billion, a P/E ratio of 91.94, a PEG ratio of 2.66 and a beta of 1.93. The firm’s 50 day simple moving average is $262.46 and its two-hundred day simple moving average is $212.41. 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 issued its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company earned $1.26 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

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.