Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Generac Holdings Inc. (NYSE:GNRC)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,770 shares of the technology company's stock, valued at approximately $3,300,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GNRC. Willis Investment Counsel boosted its stake in shares of Generac by 18.7% in the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company's stock worth $16,684,000 after acquiring an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Generac by 85.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company's stock worth $928,000 after acquiring an additional 3,244 shares during the period. Epoch Investment Partners Inc. bought a new position in shares of Generac in the first quarter worth about $1,053,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in Generac during the third quarter valued at approximately $3,742,000. Finally, Versor Investments LP bought a new position in Generac during the third quarter valued at approximately $1,823,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GNRC. JPMorgan Chase & Co. increased their price target on Generac from $160.00 to $178.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Northland Securities upped their price objective on Generac from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Truist Financial increased their price target on Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. StockNews.com upgraded Generac from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Stifel Nicolaus increased their price target on Generac from $185.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Generac has a consensus rating of "Moderate Buy" and a consensus target price of $174.58.

Insider Buying and Selling at Generac

In related news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares of the company's stock, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,268 shares of company stock worth $7,584,853. Insiders own 2.90% of the company's stock.

Generac Stock Up 3.0 %

Generac stock opened at $189.08 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.32 and a beta of 1.37. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The business has a fifty day moving average price of $168.12 and a 200-day moving average price of $153.56.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. Equities research analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Generac Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.