Generac Holdings Inc. $GNRC Position Lessened by Ninety One UK Ltd

Ninety One UK Ltd lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 55.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 115,465 shares of the technology company’s stock after selling 146,399 shares during the quarter. Ninety One UK Ltd’s holdings in Generac were worth $23,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GNRC. BlackRock Inc. purchased a new stake in shares of Generac during the second quarter valued at approximately $1,170,960,000. Diamant Asset Management Inc. raised its holdings in shares of Generac by 19,433.0% in the 1st 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 America Corp DE bought a new stake in shares of Generac in the 2nd quarter worth approximately $175,942,000. Park Presidio Capital LLC bought a new stake in shares of Generac in the 2nd quarter worth approximately $158,140,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Generac during the 2nd quarter valued at $90,872,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares in the company, valued at approximately $108,071,961.92. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the sale, the insider owned 9,966 shares in the company, valued at approximately $2,118,472.62. This trade represents a 5.71% 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. Insiders sold a total of 18,442 shares of company stock valued at $3,656,537 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GNRC shares. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research note on Thursday, September 17th. TD Cowen raised shares of Generac to a “strong-buy” rating in a report on Monday, October 5th. Wall Street Zen cut shares of Generac from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. KeyCorp upgraded Generac from a “sector weight” rating to an “overweight” rating and set a $280.00 price objective on the stock in a research report on Thursday, October 8th. Finally, UBS Group reissued a “buy” rating on shares of Generac in a research note on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $290.55.

Generac Stock Up 0.4%

Shares of NYSE GNRC opened at $198.83 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $202.91 and a 200-day moving average of $227.07. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 45.81, a PEG ratio of 1.69 and a beta of 1.91. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share 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%. Generac’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.65 earnings per share. Sell-side analysts expect that Generac Holdings Inc. will post 9.74 earnings per share for the current fiscal year.

Generac Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.