Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 20,770 Generac Holdings Inc. (NYSE:GNRC)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,770 shares of the technology company’s stock, valued at approximately $3,300,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis lifted its position in Generac by 716.5% during the 1st quarter. Natixis now owns 1,135 shares of the technology company’s stock worth $143,000 after buying an additional 996 shares in the last quarter. EntryPoint Capital LLC lifted its position in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after acquiring an additional 90 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Generac by 4.4% during the first quarter. Advisors Asset Management Inc. now owns 7,140 shares of the technology company’s stock worth $901,000 after buying an additional 298 shares during the period. Toronto Dominion Bank grew its stake in shares of Generac by 7.6% during the 1st quarter. Toronto Dominion Bank now owns 32,622 shares of the technology company’s stock worth $4,115,000 after acquiring an additional 2,294 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in Generac in the 1st quarter valued at $1,053,000. Institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

GNRC opened at $189.08 on Monday. The firm has a market cap of $11.25 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The business’s fifty day moving average is $168.12 and its 200-day moving average is $153.56.

Generac (NYSE:GNRC) last posted its quarterly earnings results 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 company 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%. Generac’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. Sell-side analysts expect that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents 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 worth $7,584,853 in the last three months. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen increased their price target on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Northland Securities lifted their price objective 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, Robert W. Baird dropped their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $174.58.

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.