Cibc World Markets Corp Increases Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Cibc World Markets Corp lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 45.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,696 shares of the technology company's stock after purchasing an additional 2,078 shares during the period. Cibc World Markets Corp's holdings in Generac were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Generac by 133.6% during the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company's stock worth $104,227,000 after acquiring an additional 384,434 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Generac by 114.8% in the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock valued at $88,944,000 after purchasing an additional 299,205 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Generac by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,986 shares of the technology company's stock valued at $86,516,000 after purchasing an additional 2,015 shares during the period. King Luther Capital Management Corp increased its position in shares of Generac by 1.1% in the fourth quarter. King Luther Capital Management Corp now owns 487,402 shares of the technology company's stock valued at $75,572,000 after buying an additional 5,105 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of Generac by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 385,584 shares of the technology company's stock worth $61,262,000 after buying an additional 20,576 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Remove Ads

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares of the company's stock, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on GNRC shares. The Goldman Sachs Group cut their price target on shares of Generac from $193.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Robert W. Baird cut their target price on shares of Generac from $172.00 to $171.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Bank of America initiated coverage on shares of Generac in a research note on Monday. They issued a "buy" rating and a $182.00 price target on the stock. Citigroup cut their price objective on Generac from $172.00 to $162.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Guggenheim upgraded Generac from a "sell" rating to a "neutral" rating in a research report on Monday, March 17th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.38.

Generac Trading Down 1.6 %

Generac stock traded down $2.15 during mid-day trading on Wednesday, hitting $134.02. The company's stock had a trading volume of 903,094 shares, compared to its average volume of 877,242. Generac Holdings Inc. has a 1 year low of $117.16 and a 1 year high of $195.94. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $7.99 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50. The stock's fifty day moving average is $142.45 and its two-hundred day moving average is $158.05.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. On average, analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

Generac Company 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.