232,919 Shares in Generac Holdings Inc. $GNRC Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 232,919 shares of the technology company’s stock, valued at approximately $68,201,000. The Manufacturers Life Insurance Company owned approximately 0.39% of Generac at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GNRC. Callan Family Office LLC acquired a new position in shares of Generac during the 2nd quarter worth $3,033,000. Hsbc Holdings PLC grew its stake in Generac by 42.8% in the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after acquiring an additional 27,893 shares during the last quarter. Patton Fund Management Inc. purchased a new position in Generac during the 1st quarter valued at about $3,797,000. Needham Investment Management LLC increased its holdings in Generac by 213.6% during the 4th quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock valued at $4,705,000 after acquiring an additional 23,500 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Generac during the first quarter worth about $1,267,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Generac stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 12,236 shares of company stock worth $2,871,273. 2.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GNRC. Argus increased their price target on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Roth Capital set a $214.00 target price on Generac in a report on Thursday, July 30th. Canaccord Genuity Group cut their price target on Generac from $325.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, July 30th. UBS Group increased their price objective on Generac from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Stephens reiterated an “overweight” rating and set a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

Generac Stock Down 0.6%

Shares of NYSE GNRC opened at $202.27 on Wednesday. The firm has a market cap of $11.94 billion, a P/E ratio of 46.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The firm’s 50 day moving average price is $231.03 and its 200 day moving average price is $230.13.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $1.65 EPS. Generac’s revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

About Generac

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.