Cibc World Market Inc. Makes New Investment in Generac Holdings Inc. $GNRC

Cibc World Market Inc. bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,534 shares of the technology company’s stock, valued at approximately $9,233,000.

Several other hedge funds and other institutional investors have also modified their holdings of GNRC. N.E.W. Advisory Services LLC bought a new position in Generac in the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac during the 3rd quarter worth approximately $26,000. Avalon Trust Co acquired a new stake in shares of Generac during the 1st quarter worth approximately $32,000. Essential Partners LLC lifted its holdings in shares of Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Generac during the 2nd quarter valued at approximately $25,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Kyle Andrew Raabe sold 586 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the sale, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction on 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 owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock worth $2,871,273 in the last three months. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird set a $305.00 price objective on Generac in a research note on Thursday, July 30th. Cantor Fitzgerald boosted their price target on shares of Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Argus upped their price target 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 report on Saturday, May 9th. Finally, Roth Capital set a $214.00 price objective on shares of Generac in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $284.84.

Generac Price Performance

Shares of NYSE GNRC opened at $203.66 on Tuesday. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.75 and a beta of 1.92. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $232.30 and a two-hundred day moving average of $229.95.

Generac (NYSE:GNRC) last posted its quarterly earnings results 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. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 earnings per share. As a group, analysts expect that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

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.