Generac Holdings Inc. $GNRC Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 0.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 648,364 shares of the technology company’s stock after selling 3,315 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Generac were worth $120,109,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its stake in Generac by 40.9% during the second quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock worth $285,338,000 after acquiring an additional 577,933 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Generac during the third quarter valued at approximately $70,744,000. Norges Bank acquired a new stake in shares of Generac during the 2nd quarter worth approximately $53,138,000. Victory Capital Management Inc. raised its position in shares of Generac by 17.9% during 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 period. Finally, Federated Hermes Inc. lifted its holdings in shares of Generac by 63.5% in the 2nd quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock worth $107,314,000 after purchasing an additional 291,012 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

Shares of GNRC opened at $220.72 on Thursday. The firm has a market capitalization of $12.95 billion, a PE ratio of 82.36, a P/E/G ratio of 1.61 and a beta of 1.74. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $181.45 and a 200 day moving average price of $173.66. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $241.09.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The company’s revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 earnings per share. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen upped their price objective on Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Canaccord Genuity Group set a $275.00 price target on shares of Generac in a report on Thursday, February 12th. Wells Fargo & Company increased their price objective on shares of Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. UBS Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Generac in a research report on Friday, February 13th. Finally, Stifel Nicolaus set a $235.00 target price on shares of Generac in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.19.

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.