MetLife Investment Management LLC Increases Holdings in Generac Holdings Inc. (NYSE:GNRC)

MetLife Investment Management LLC increased its stake in shares of Generac Holdings Inc. (NYSE:GNRCGet Rating) by 42.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,875 shares of the technology company’s stock after buying an additional 5,935 shares during the quarter. MetLife Investment Management LLC’s holdings in Generac were worth $5,908,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Generac by 260.2% during the first quarter. Signaturefd LLC now owns 479 shares of the technology company’s stock worth $142,000 after buying an additional 346 shares in the last quarter. State Street Corp lifted its position in Generac by 0.8% during the fourth quarter. State Street Corp now owns 2,591,402 shares of the technology company’s stock worth $911,966,000 after buying an additional 20,575 shares in the last quarter. Sei Investments Co. lifted its position in Generac by 20.0% during the fourth quarter. Sei Investments Co. now owns 117,678 shares of the technology company’s stock worth $41,368,000 after buying an additional 19,576 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Generac by 8.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 93,655 shares of the technology company’s stock worth $32,959,000 after buying an additional 7,013 shares in the last quarter. Finally, NEXT Financial Group Inc raised its position in Generac by 26.7% in the fourth quarter. NEXT Financial Group Inc now owns 4,411 shares of the technology company’s stock valued at $1,552,000 after purchasing an additional 929 shares during the period. Hedge funds and other institutional investors own 90.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GNRC shares. OTR Global downgraded Generac from a “mixed” rating to a “negative” rating in a research report on Friday, July 22nd. TheStreet downgraded Generac from a “b-” rating to a “c+” rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. lifted their target price on Generac from $415.00 to $421.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. KeyCorp reduced their target price on Generac from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, July 21st. Finally, Guggenheim cut their price objective on Generac from $561.00 to $455.00 and set a “buy” rating on the stock in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $414.86.

Generac Trading Down 4.1 %

NYSE:GNRC opened at $223.39 on Monday. The stock has a 50-day simple moving average of $238.88 and a 200-day simple moving average of $258.93. The stock has a market cap of $14.26 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.88 and a beta of 1.33. Generac Holdings Inc. has a 1 year low of $197.94 and a 1 year high of $524.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 2.13.

Generac (NYSE:GNRCGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The technology company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.34. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Generac had a return on equity of 29.42% and a net margin of 12.28%. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.39 EPS. As a group, analysts anticipate that Generac Holdings Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the completion of the transaction, the chief executive officer now directly owns 610,975 shares of the company’s stock, valued at approximately $161,883,936. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

About Generac

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

See Also

Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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