Mackenzie Financial Corp Raises Holdings in Generac Holdings Inc. (NYSE:GNRC)

Mackenzie Financial Corp lifted its stake in Generac Holdings Inc. (NYSE:GNRC) by 21.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 420,121 shares of the technology company’s stock after buying an additional 74,115 shares during the quarter. Mackenzie Financial Corp owned approximately 0.69% of Generac worth $55,548,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GNRC. ICA Group Wealth Management LLC purchased a new stake in shares of Generac in the fourth quarter worth about $27,000. EntryPoint Capital LLC boosted its stake in shares of Generac by 73.2% in the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after buying an additional 90 shares during 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 worth $34,000 after buying an additional 220 shares during the last quarter. Quarry LP boosted its stake in shares of Generac by 219.6% in the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after buying an additional 202 shares during the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new position in Generac during the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

GNRC has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Roth Mkm increased their price target on Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Robert W. Baird increased their price target on Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. TD Cowen increased their price target on Generac from $144.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Northland Securities increased their price target on Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $154.71.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.

Generac Price Performance

GNRC stock opened at $154.82 on Friday. The business has a fifty day moving average of $148.58 and a two-hundred day moving average of $140.78. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $169.57.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts anticipate that Generac Holdings Inc. will post 6.5 earnings per share 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.