Generac Holdings Inc. (NYSE:GNRC) Stock Position Increased by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in Generac Holdings Inc. (NYSE:GNRCFree Report) by 1,350.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,559 shares of the technology company’s stock after buying an additional 30,315 shares during the period. Bank of Nova Scotia owned approximately 0.05% of Generac worth $4,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GNRC. Norges Bank bought a new stake in shares of Generac in the 4th quarter worth $67,253,000. Ariel Investments LLC raised its stake in shares of Generac by 14.9% in the 3rd quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after buying an additional 261,050 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Generac by 42.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 650,139 shares of the technology company’s stock worth $70,839,000 after buying an additional 194,265 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Generac by 108.6% in the 3rd quarter. Blair William & Co. IL now owns 284,345 shares of the technology company’s stock worth $30,982,000 after acquiring an additional 148,017 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Generac by 9.9% in the 3rd quarter. Invesco Ltd. now owns 1,633,226 shares of the technology company’s stock worth $177,956,000 after acquiring an additional 147,523 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the transaction, the chief executive officer now directly owns 592,177 shares in the company, valued at $75,170,948.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Nam Tran Nguyen sold 546 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the sale, the director now directly owns 3,512 shares in the company, valued at approximately $493,611.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the completion of the sale, the chief executive officer now owns 592,177 shares in the company, valued at $75,170,948.38. The disclosure for this sale can be found here. Insiders have sold 80,785 shares of company stock worth $11,688,161 over the last three months. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GNRC shares. OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a report on Tuesday, April 2nd. TD Cowen lowered their price target on Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Oppenheimer downgraded Generac from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Citigroup boosted their target price on Generac from $124.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Robert W. Baird boosted their target price on Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Generac presently has a consensus rating of “Hold” and an average target price of $141.05.

Check Out Our Latest Analysis on GNRC

Generac Price Performance

NYSE GNRC opened at $139.43 on Wednesday. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $156.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The stock has a market capitalization of $8.45 billion, a PE ratio of 38.41, a P/E/G ratio of 1.94 and a beta of 1.44. The stock has a 50-day simple moving average of $137.84 and a 200 day simple moving average of $125.66.

Generac (NYSE:GNRCGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The business had revenue of $889.27 million during the quarter, compared to analysts’ expectations of $886.60 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Generac Holdings Inc. will post 6.08 EPS for the current year.

Generac Company Profile

(Free Report)

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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