The Manufacturers Life Insurance Company Takes $68.20 Million Position in Generac Holdings Inc. $GNRC

The Manufacturers Life Insurance Company acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 232,919 shares of the technology company’s stock, valued at approximately $68,201,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNRC. Park Presidio Capital LLC purchased a new stake in Generac during the second quarter valued at about $158,140,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Generac during the second quarter worth about $17,972,000. Fiduciary Financial Advisors purchased a new position in shares of Generac in the 2nd quarter worth about $50,000. Algert Global LLC raised its holdings in shares of Generac by 114.9% in the 2nd quarter. Algert Global LLC now owns 96,836 shares of the technology company’s stock worth $28,355,000 after purchasing an additional 51,779 shares during the period. Finally, Infrastructure Capital Advisors LLC acquired a new position in shares of Generac in the 2nd quarter valued at about $574,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Raymond James Financial set a $302.00 price target on shares of Generac in a research report on Friday, May 22nd. UBS Group raised their target price on shares of Generac from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Stifel Nicolaus lifted their target price on shares of Generac from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Generac in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $284.84.

Generac Stock Down 0.6%

Shares of Generac stock opened at $202.27 on Wednesday. The business has a 50-day moving average of $231.03 and a 200-day moving average of $230.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The company has a market capitalization of $11.94 billion, a PE ratio of 46.61, a P/E/G ratio of 1.73 and a beta of 1.92. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44.

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

Insiders Place Their Bets

In other Generac news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider directly owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the sale, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. The trade was a 5.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock worth $2,871,273 in the last three months. 2.40% of the stock is owned by insiders.

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.