The Manufacturers Life Insurance Company Grows Position in Generac Holdings Inc. (NYSE:GNRC)

The Manufacturers Life Insurance Company lifted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 114.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 559,816 shares of the technology company's stock after acquiring an additional 299,205 shares during the period. The Manufacturers Life Insurance Company owned 0.94% of Generac worth $88,944,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new position in Generac in the 3rd quarter valued at about $119,000. Dynamic Technology Lab Private Ltd raised its stake in shares of Generac by 77.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 2,753 shares of the technology company's stock worth $437,000 after purchasing an additional 1,201 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Generac by 194.4% during the third quarter. Daiwa Securities Group Inc. now owns 7,175 shares of the technology company's stock worth $1,140,000 after purchasing an additional 4,738 shares during the period. Cerity Partners LLC grew its position in Generac by 0.4% in the 3rd quarter. Cerity Partners LLC now owns 49,984 shares of the technology company's stock valued at $7,941,000 after buying an additional 176 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its stake in Generac by 2,060.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,191 shares of the technology company's stock valued at $2,890,000 after buying an additional 17,349 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO York A. Ragen sold 29,081 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the sale, the chief financial officer now directly owns 135,613 shares of the company's stock, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares of the company's stock, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock valued at $7,584,853 over the last 90 days. Insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GNRC shares. The Goldman Sachs Group lifted their target price on shares of Generac from $148.00 to $193.00 and gave the company a "buy" rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Generac from $160.00 to $178.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Truist Financial raised their price target on Generac from $170.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Stephens restated an "overweight" rating and issued a $200.00 price target on shares of Generac in a research note on Monday, August 5th. Finally, Roth Mkm increased their price objective on Generac from $160.00 to $175.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. 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 data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and a consensus target price of $174.58.

Generac Price Performance

NYSE:GNRC traded down $1.86 during trading hours on Thursday, reaching $190.40. 331,839 shares of the company traded hands, compared to its average volume of 944,249. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The stock has a market cap of $11.33 billion, a P/E ratio of 39.50, a P/E/G ratio of 2.35 and a beta of 1.37. The firm's 50-day moving average is $171.04 and its 200-day moving average is $154.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data 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 firm 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. Equities research analysts expect that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal 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.