Maverick Capital Ltd. Makes New $1.27 Million Investment in Generac Holdings Inc. $GNRC

Maverick Capital Ltd. purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,487 shares of the technology company’s stock, valued at approximately $1,267,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in Generac by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock valued at $309,000 after acquiring an additional 142 shares in the last quarter. Woodline Partners LP boosted its stake in Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after purchasing an additional 1,463 shares during the period. First Trust Advisors LP increased its holdings in Generac by 27.6% during the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock worth $14,507,000 after purchasing an additional 21,908 shares in the last quarter. Cerity Partners LLC increased its holdings in Generac by 1.6% during the 2nd quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after purchasing an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Generac by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock valued at $14,929,000 after purchasing an additional 8,213 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Activity at Generac

In other Generac news, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the transaction, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed 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, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This represents a 0.88% 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. Insiders have sold 6,100 shares of company stock valued at $1,651,443 over the last three months. Insiders own 2.40% of the company’s stock.

Generac Trading Down 2.4%

Shares of NYSE:GNRC opened at $197.06 on Tuesday. The company’s 50-day moving average price is $255.16 and its two-hundred day moving average price is $223.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The stock has a market capitalization of $11.60 billion, a PE ratio of 61.78, a price-to-earnings-growth ratio of 1.89 and a beta of 1.89.

Generac (NYSE:GNRC) last announced 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 company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.Generac’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 EPS. On average, equities analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GNRC has been the topic of a number of research reports. UBS Group boosted their price target on Generac from $305.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Argus increased their price objective on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Citigroup lifted their target price on Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Roth Capital restated a “neutral” rating and issued a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $286.44.

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.