Bank of Montreal Can Purchases 4,038 Shares of Generac Holdings Inc. (NYSE:GNRC)

Bank of Montreal Can grew its position in Generac Holdings Inc. (NYSE:GNRC) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,617 shares of the technology company’s stock after purchasing an additional 4,038 shares during the period. Bank of Montreal Can’s holdings in Generac were worth $13,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors bought a new stake in Generac in the 4th quarter valued at approximately $155,707,000. William Blair Investment Management LLC acquired a new position in Generac during the second quarter worth $98,282,000. Wellington Management Group LLP grew its position in Generac by 432.9% in the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after purchasing an additional 318,664 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Generac by 831.1% in 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 during the last quarter. Finally, Blair William & Co. IL lifted its position in Generac by 29.2% during the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.

Generac Price Performance

NYSE:GNRC opened at $154.84 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 42.66, a P/E/G 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. The firm’s 50-day simple moving average is $148.58 and its 200 day simple moving average is $140.78.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. As a group, sell-side analysts predict that Generac Holdings Inc. will post 6.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on GNRC shares. Stephens reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Generac in a research report on Monday, August 5th. Janney Montgomery Scott cut Generac from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $126.00 to $154.00 in a research note on Thursday, June 13th. TD Cowen raised their target price on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Northland Securities upped their price target on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Roth Mkm lifted their price objective on shares of Generac from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $154.71.

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.