Fourier Capital Management Ltd Purchases Shares of 6,580 Generac Holdings Inc. $GNRC

Fourier Capital Management Ltd acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,580 shares of the technology company’s stock, valued at approximately $1,927,000. Generac comprises approximately 3.0% of Fourier Capital Management Ltd’s portfolio, making the stock its 8th biggest holding.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Generac in the second quarter valued at approximately $1,170,960,000. Invesco Ltd. increased 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 worth $330,557,000 after purchasing an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. raised its stake in Generac by 19,433.0% during the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after purchasing an additional 662,665 shares during the period. Bank of Montreal Can raised its stake in Generac by 1,141.1% during the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after purchasing an additional 639,551 shares during the period. Finally, Norges Bank acquired a new position in shares of Generac in the 4th quarter valued at $68,590,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Price Performance

GNRC opened at $206.51 on Friday. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The company has a 50 day moving average of $233.63 and a two-hundred day moving average of $229.33. The company has a market cap of $12.19 billion, a P/E ratio of 47.58, a P/E/G ratio of 1.76 and a beta of 1.92. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43.

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

Insider Activity at Generac

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the transaction, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. This trade represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 dated Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares of the company’s stock, valued at $3,393,615.64. The trade was a 3.43% 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 three months, insiders sold 12,236 shares of company stock worth $2,871,273. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the subject of several research reports. Stephens reissued an “overweight” rating and set a $290.00 price objective on shares of Generac in a research note on Thursday, May 21st. Cantor Fitzgerald increased their target price on Generac from $325.00 to $333.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Robert W. Baird set a $305.00 target price on Generac in a report on Thursday, July 30th. Canaccord Genuity Group lowered their price target on Generac from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Stifel Nicolaus upped their price target on Generac from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.84.

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.