Arrowstreet Capital Limited Partnership Acquires 33,784 Shares of Generac Holdings Inc. $GNRC

Arrowstreet Capital Limited Partnership raised its holdings in Generac Holdings Inc. (NYSE:GNRC) by 3.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 914,905 shares of the technology company’s stock after buying an additional 33,784 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.56% of Generac worth $131,024,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. New York Life Investment Management LLC boosted its position in shares of Generac by 0.7% in the second quarter. New York Life Investment Management LLC now owns 7,924 shares of the technology company’s stock valued at $1,135,000 after acquiring an additional 58 shares during the period. Pine Haven Investment Counsel Inc raised its stake in Generac by 2.7% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,861 shares of the technology company’s stock valued at $410,000 after purchasing an additional 75 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Generac by 81.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock valued at $25,000 after purchasing an additional 77 shares during the period. Covestor Ltd grew its position in Generac by 16.2% in the 1st quarter. Covestor Ltd now owns 596 shares of the technology company’s stock worth $75,000 after purchasing an additional 83 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its position in Generac by 4.1% in the 2nd quarter. Fiduciary Alliance LLC now owns 2,259 shares of the technology company’s stock worth $324,000 after purchasing an additional 89 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $166.43, for a total transaction of $832,150.00. Following the transaction, the chief executive officer owned 542,966 shares in the company, valued at $90,365,831.38. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GNRC shares. JPMorgan Chase & Co. upped their price objective on shares of Generac from $180.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Roth Capital set a $184.00 price target on Generac and gave the company a “neutral” rating in a research note on Thursday, October 30th. Barclays raised their price objective on Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Generac in a report on Wednesday, October 8th. Finally, UBS Group cut their target price on Generac from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.06.

Generac Stock Performance

NYSE:GNRC opened at $155.29 on Wednesday. The stock has a market capitalization of $9.11 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.82. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $203.25. The firm has a 50 day moving average of $165.93 and a 200-day moving average of $161.98.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business earned $2.25 earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

About Generac

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.