Arrowstreet Capital Limited Partnership Buys 86,863 Shares of Generac Holdings Inc. $GNRC

Arrowstreet Capital Limited Partnership grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,038,493 shares of the technology company’s stock after purchasing an additional 86,863 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.76% of Generac worth $202,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GNRC. Invesco Ltd. increased its position in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after buying an additional 806,430 shares in the last quarter. Diamant Asset Management Inc. boosted its holdings in Generac by 19,433.0% during the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after acquiring an additional 662,665 shares during the last quarter. Bank of Montreal Can boosted its holdings in Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after acquiring an additional 639,551 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock valued at $130,825,000 after purchasing an additional 536,732 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Generac during the fourth quarter valued at about $68,590,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GNRC shares. Argus upped their price objective on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Robert W. Baird set a $311.00 target price on Generac in a report on Thursday, April 30th. Stifel Nicolaus set a $275.00 price target on Generac in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.44.

Generac Price Performance

Shares of NYSE GNRC opened at $202.13 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The stock has a market cap of $11.90 billion, a PE ratio of 63.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.89. The stock has a fifty day moving average of $256.28 and a 200-day moving average of $222.70.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 EPS. Equities research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the transaction, the insider owned 15,808 shares in the company, valued at $4,046,848. This represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,100 shares of company stock valued at $1,651,443 over the last 90 days. Company insiders own 2.40% of the company’s stock.

Generac Profile

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.