CIBC Asset Management Inc Boosts Stock Position in Generac Holdings Inc. $GNRC

CIBC Asset Management Inc boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 72.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,070 shares of the technology company’s stock after purchasing an additional 5,506 shares during the period. CIBC Asset Management Inc’s holdings in Generac were worth $1,782,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after acquiring an additional 536,732 shares in the last quarter. Norges Bank bought a new position in shares of Generac during the fourth quarter valued at $68,590,000. Robeco Schweiz AG bought a new position in shares of Generac during the fourth quarter valued at $51,020,000. Victory Capital Management Inc. raised its position in shares of Generac by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after purchasing an additional 324,809 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in Generac by 346.6% in the 2nd quarter. Holocene Advisors LP now owns 356,623 shares of the technology company’s stock worth $51,072,000 after purchasing an additional 276,775 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on 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. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing 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, insider Norman P. Taffe sold 550 shares of the stock in a transaction 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 directly owned 16,108 shares in the company, valued at $4,385,564.08. The trade was a 3.30% 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. 2.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GNRC. Zacks Research downgraded shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Stifel Nicolaus set a $275.00 target price on shares of Generac in a report on Thursday, April 30th. Argus increased their price target on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Canaccord Genuity Group raised their price target on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Needham & Company LLC restated a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. One research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.88.

Generac Stock Performance

Shares of NYSE GNRC opened at $265.47 on Tuesday. The firm’s 50-day moving average price is $238.81 and its 200-day moving average price is $198.82. Generac Holdings Inc. has a 52-week low of $123.66 and a 52-week high of $294.18. The company has a market cap of $15.63 billion, a PE ratio of 83.22, a PEG ratio of 2.45 and a beta of 1.93. 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 released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current 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.