APG Asset Management N.V. Increases Stake in Generac Holdings Inc. (NYSE:GNRC)

APG Asset Management N.V. raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 7.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 90,193 shares of the technology company’s stock after acquiring an additional 6,243 shares during the quarter. APG Asset Management N.V.’s holdings in Generac were worth $11,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital World Investors bought a new position in Generac in the 4th quarter worth $155,707,000. William Blair Investment Management LLC bought a new position in shares of Generac in the second quarter worth about $98,282,000. Wellington Management Group LLP raised its stake in shares of Generac by 432.9% in the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after buying an additional 318,664 shares during the period. DAVENPORT & Co LLC lifted its position in shares of Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after buying an additional 214,322 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Generac by 29.2% during the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock valued at $60,487,000 after acquiring an additional 103,439 shares during the period. Institutional investors own 84.04% of the company’s stock.

Insider Activity

In related 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 value of $666,950.00. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stephens restated an “overweight” rating and set a $200.00 target price on shares of Generac in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm upped their target price on shares of Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Scotiabank raised their price target on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Canaccord Genuity Group upped their price objective on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $154.71.

Generac Price Performance

GNRC stock opened at $154.84 on Friday. The company has a fifty day simple moving average of $148.58 and a two-hundred day simple moving average of $140.78. Generac Holdings Inc. has a 52 week low of $79.86 and a 52 week high of $169.57. 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 firm has a market capitalization of $9.39 billion, a P/E ratio of 42.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38.

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 company had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business posted $1.08 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. Analysts anticipate that Generac Holdings Inc. will post 6.5 earnings per share for the current fiscal 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.