52,703 Shares in Generac Holdings Inc. $GNRC Acquired by Man Group plc

Man Group plc bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, HoldingsChannel.com reports. The firm bought 52,703 shares of the technology company’s stock, valued at approximately $15,432,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Generac in the second quarter valued at about $1,170,960,000. Invesco Ltd. increased its position in shares of Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the last quarter. State Street Corp increased its position 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 valued at $313,619,000 after purchasing an additional 45,592 shares during the last quarter. Boston Partners lifted its stake in shares of Generac by 7.1% in the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after purchasing an additional 128,439 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Generac by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock worth $202,943,000 after purchasing an additional 6,332 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Down 3.9%

GNRC stock opened at $198.52 on Friday. The business’s 50-day moving average price is $228.20 and its 200-day moving average price is $230.48. The stock has a market cap of $11.71 billion, a P/E ratio of 45.74, a PEG ratio of 1.76 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 twelve month low of $134.80 and a twelve month high of $296.44.

Generac (NYSE:GNRC) last released its 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. 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 period in the prior year, the firm posted $1.65 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Generac Holdings Inc. will post 9.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GNRC. DA Davidson set a $333.00 target price on shares of Generac in a research report on Thursday, July 30th. Needham & Company LLC increased their price target on shares of Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price target on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average price target of $284.84.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. 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 sold a total of 12,236 shares of company stock worth $2,871,273 over the last three months. 2.40% of the stock is currently owned by company insiders.

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.