Burgundy Asset Management Ltd. Grows Stake in Generac Holdings Inc. (NYSE:GNRC)

Burgundy Asset Management Ltd. lifted its stake in Generac Holdings Inc. (NYSE:GNRC) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 422,628 shares of the technology company’s stock after acquiring an additional 7,045 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Generac were worth $55,880,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GNRC. ICA Group Wealth Management LLC acquired a new position in Generac during the 4th quarter worth approximately $27,000. EntryPoint Capital LLC lifted its position in shares of Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after purchasing an additional 220 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of Generac in the second quarter valued at $38,000. Finally, Quarry LP grew its holdings in Generac by 219.6% during the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GNRC. JPMorgan Chase & Co. upped their price objective on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Janney Montgomery Scott lowered Generac from a “buy” rating to a “neutral” rating and raised their price objective for the company from $126.00 to $154.00 in a research note on Thursday, June 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $175.00 target price (up from $145.00) on shares of Generac in a research report on Thursday, August 1st. TD Cowen raised their price target on shares of Generac from $144.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Guggenheim cut shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target on the stock. in a report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Generac presently has an average rating of “Hold” and a consensus price target of $154.71.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the completion of the transaction, the chief executive officer now directly owns 577,177 shares in the company, valued at $76,989,640.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.80% of the stock is owned by company insiders.

Generac Trading Down 0.4 %

NYSE:GNRC opened at $143.14 on Thursday. The firm has a market capitalization of $8.68 billion, a P/E ratio of 39.43, a P/E/G ratio of 1.83 and a beta of 1.38. The business has a 50 day simple moving average of $149.61 and a 200 day simple moving average of $139.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $169.57.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.15. The company had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Equities research analysts predict that Generac Holdings Inc. will post 6.52 EPS for the current year.

About Generac

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.