PDT Partners LLC Invests $1.09 Million in Generac Holdings Inc. (NYSE:GNRC)

PDT Partners LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,880 shares of the technology company's stock, valued at approximately $1,093,000.

Several other hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in Generac in the 2nd quarter valued at about $98,282,000. The Manufacturers Life Insurance Company raised its stake in shares of Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock valued at $88,944,000 after acquiring an additional 299,205 shares during the period. Jennison Associates LLC acquired a new position in shares of Generac in the 3rd quarter worth approximately $45,722,000. International Assets Investment Management LLC boosted its position in shares of Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company's stock worth $42,433,000 after purchasing an additional 266,026 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company's stock valued at $30,560,000 after purchasing an additional 167,641 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Generac Stock Down 0.4 %

Shares of NYSE GNRC traded down $0.75 during mid-day trading on Monday, reaching $187.45. The company had a trading volume of 431,017 shares, compared to its average volume of 939,304. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The stock has a market cap of $11.15 billion, a P/E ratio of 38.89, a PEG ratio of 2.31 and a beta of 1.37. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $173.74 and a two-hundred day simple moving average of $155.73.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. Sell-side analysts predict that Generac Holdings Inc. will post 6.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stephens restated an "overweight" rating and set a $200.00 price target on shares of Generac in a research report on Monday, August 5th. Stifel Nicolaus raised their target price on Generac from $185.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Citigroup boosted their price target on shares of Generac from $128.00 to $172.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Generac from $160.00 to $178.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Finally, Robert W. Baird cut their target price on shares of Generac from $187.00 to $181.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.58.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at $89,346,790.61. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO York A. Ragen sold 29,081 shares of the stock in a transaction on 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 of the company's stock, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 over the last 90 days. 2.90% of the stock is currently owned by insiders.

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.