Generac Holdings Inc. $GNRC Shares Purchased by Ariel Investments LLC

Ariel Investments LLC lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,804,595 shares of the technology company’s stock after purchasing an additional 188,717 shares during the quarter. Generac accounts for 2.9% of Ariel Investments LLC’s holdings, making the stock its 7th biggest holding. Ariel Investments LLC owned approximately 3.08% of Generac worth $258,436,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new stake in Generac during the first quarter worth about $54,000. Vanguard Group Inc. raised its position in shares of Generac by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,932,913 shares of the technology company’s stock valued at $878,053,000 after buying an additional 137,363 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Generac by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 577,922 shares of the technology company’s stock worth $73,194,000 after acquiring an additional 19,936 shares during the period. Deutsche Bank AG lifted its holdings in shares of Generac by 14.1% during the 1st quarter. Deutsche Bank AG now owns 198,215 shares of the technology company’s stock worth $25,104,000 after acquiring an additional 24,499 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Generac by 30.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60,007 shares of the technology company’s stock worth $7,600,000 after acquiring an additional 13,842 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GNRC. Citigroup lowered their price objective on shares of Generac from $217.00 to $207.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Barclays boosted their price target on Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Roth Capital set a $184.00 price objective on Generac and gave the company a “neutral” rating in a research note on Thursday, October 30th. Needham & Company LLC initiated coverage on Generac in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $248.00 target price on the stock. Finally, JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price for the company in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.28.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total transaction of $832,150.00. Following the completion of the sale, the chief executive officer owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.

Generac Stock Performance

Shares of Generac stock opened at $160.17 on Wednesday. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 1.63 and a beta of 1.82. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company’s fifty day moving average is $165.45 and its 200 day moving average is $163.26. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51.

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

Generac Profile

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.