Pictet Asset Management Holding SA Raises Position in Generac Holdings Inc. $GNRC

Pictet Asset Management Holding SA raised its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 19.7% during the fourth quarter, HoldingsChannel reports. The firm owned 14,060 shares of the technology company’s stock after buying an additional 2,314 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Generac were worth $1,917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Generac during the third quarter valued at approximately $26,000. Sentry Investment Management LLC grew its stake in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. First Horizon Corp bought a new position in shares of Generac during the third quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new position in shares of Generac during the second quarter valued at approximately $25,000. Finally, Quent Capital LLC bought a new position in shares of Generac during the third quarter valued at approximately $41,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on GNRC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $277.00 target price on shares of Generac in a research note on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. Stifel Nicolaus set a $275.00 target price on Generac in a research note on Thursday. Argus upped their target price on Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays upped their target price on Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.81.

Generac Stock Down 1.0%

Shares of NYSE:GNRC opened at $256.78 on Tuesday. Generac Holdings Inc. has a 52-week low of $113.50 and a 52-week high of $261.85. The stock has a market cap of $15.07 billion, a P/E ratio of 80.49, a price-to-earnings-growth ratio of 2.49 and a beta of 1.93. The business’s 50 day moving average is $211.52 and its 200 day moving average is $181.74. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last announced 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 return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Generac’s revenue was up 12.5% compared to the same quarter last year. Sell-side analysts predict that Generac Holdings Inc. will post 8.69 EPS for the current year.

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.