American Century Companies Inc. Boosts Holdings in Generac Holdings Inc. $GNRC

American Century Companies Inc. increased its position in Generac Holdings Inc. (NYSE:GNRC) by 203.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,419 shares of the technology company’s stock after purchasing an additional 80,730 shares during the period. American Century Companies Inc. owned approximately 0.21% of Generac worth $20,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sentry Investment Management LLC lifted its position in Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. First Horizon Corp purchased a new position in Generac in the 3rd quarter worth about $28,000. MUFG Securities EMEA plc bought a new position in Generac during the 2nd quarter valued at about $25,000. Quent Capital LLC bought a new stake in shares of Generac in the third quarter worth approximately $41,000. Finally, Red Tortoise LLC bought a new position in Generac during the third quarter valued at approximately $42,000. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Generac Stock Performance

Shares of NYSE GNRC opened at $206.94 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $241.09. The firm has a fifty day moving average price of $185.65 and a 200-day moving average price of $173.84. The stock has a market cap of $12.14 billion, a PE ratio of 77.22, a price-to-earnings-growth ratio of 1.49 and a beta of 1.74.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.20). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The company’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 EPS. Equities analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen increased their price target on Generac from $220.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $235.00 price target on Generac in a research note on Thursday, February 12th. Robert W. Baird set a $292.00 price objective on shares of Generac in a research note on Thursday, February 12th. Canaccord Genuity Group set a $275.00 target price on shares of Generac in a report on Thursday, February 12th. Finally, Guggenheim reiterated a “neutral” rating and set a $202.00 target price on shares of Generac in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.19.

About Generac

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.