Jennison Associates LLC Purchases 4,985 Shares of Generac Holdings Inc. $GNRC

Jennison Associates LLC lifted its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520,628 shares of the technology company’s stock after buying an additional 4,985 shares during the period. Jennison Associates LLC’s holdings in Generac were worth $101,694,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. MUFG Securities EMEA plc bought a new stake in Generac in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the 3rd quarter worth approximately $26,000. Avalon Trust Co bought a new position in shares of Generac during the 1st quarter worth approximately $32,000. GHP Investment Advisors Inc. acquired a new stake in shares of Generac in the first quarter valued at approximately $36,000. Finally, Root Financial Partners LLC raised its holdings in shares of Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 54 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on 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 approximately $153,653,231.04. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the transaction, the insider directly owned 15,808 shares in the company, valued at $4,046,848. The trade was 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. In the last three months, insiders have sold 6,100 shares of company stock worth $1,651,443. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GNRC. Needham & Company LLC restated a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Canaccord Genuity Group lifted their price target on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Barclays boosted their price target on shares of Generac from $228.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Stephens restated an “overweight” rating and set a $290.00 price objective on shares of Generac in a research note on Thursday, May 21st. Finally, TD Cowen raised their price objective on Generac from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus price target of $284.18.

Generac Stock Performance

Shares of GNRC opened at $214.55 on Monday. The company has a market cap of $12.63 billion, a PE ratio of 67.26, a price-to-earnings-growth ratio of 2.01 and a beta of 1.89. The firm has a 50-day moving average of $262.15 and a 200-day moving average of $220.73. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

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

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.