Mitsubishi UFJ Asset Management Co. Ltd. Makes New $22.94 Million Investment in Generac Holdings Inc. $GNRC

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 78,337 shares of the technology company’s stock, valued at approximately $22,938,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings 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 during the period. State Street Corp lifted its holdings in shares of Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after acquiring an additional 45,592 shares during the period. Boston Partners boosted its position in shares of Generac by 7.1% in the third quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after acquiring an additional 128,439 shares during the last quarter. Geode Capital Management LLC grew its holdings in Generac by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after purchasing an additional 6,332 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Generac by 20.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company’s stock worth $184,870,000 after purchasing an additional 189,457 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GNRC shares. Stephens reiterated an “overweight” rating and issued a $290.00 price target on shares of Generac in a report on Thursday, May 21st. Citigroup upped their price objective on Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Barclays cut their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. UBS Group lifted their target price on Generac from $335.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group lowered their price target on Generac from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $284.84.

Generac Trading Down 1.9%

Shares of GNRC stock opened at $206.88 on Friday. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 47.67, a price-to-earnings-growth ratio of 1.80 and a beta of 1.92. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The firm’s 50 day moving average price is $234.74 and its two-hundred day moving average price is $229.49.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Generac Holdings Inc. will post 9.78 EPS for the current year.

Insider Activity at Generac

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the transaction, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. This trade represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the transaction, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 12,236 shares of company stock worth $2,871,273. Corporate insiders own 2.40% of the company’s stock.

Generac Company 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.