Congress Asset Management Co. Grows Position in Generac Holdings Inc. (NYSE:GNRC)

Congress Asset Management Co. raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 23.0% during the 3rd quarter, Holdings Channel reports. The fund owned 2,990 shares of the technology company’s stock after purchasing an additional 560 shares during the period. Congress Asset Management Co.’s holdings in Generac were worth $475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors raised its stake in Generac by 2.1% during the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after purchasing an additional 25,646 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Generac during the 2nd quarter valued at about $98,282,000. Dimensional Fund Advisors LP lifted its holdings in shares of Generac by 5.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after acquiring an additional 35,026 shares during the last quarter. Ninety One UK Ltd grew its position in Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after acquiring an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Generac by 29.2% during the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after acquiring an additional 103,439 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.

Generac Trading Up 2.0 %

Shares of NYSE:GNRC opened at $168.91 on Friday. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $10.16 billion, a PE ratio of 43.31, a P/E/G ratio of 2.12 and a beta of 1.38. Generac Holdings Inc. has a 12-month low of $98.27 and a 12-month high of $176.14. The business’s fifty day simple moving average is $156.93 and its 200-day simple moving average is $147.89.

Generac (NYSE:GNRC) last announced its 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. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Generac Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GNRC shares. Citigroup raised their price objective on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Northland Securities lifted their price target on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.10.

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.