The Manufacturers Life Insurance Company Increases Position in Generac Holdings Inc. (NYSE:GNRC)

The Manufacturers Life Insurance Company boosted its position in Generac Holdings Inc. (NYSE:GNRC) by 114.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 559,816 shares of the technology company’s stock after buying an additional 299,205 shares during the period. The Manufacturers Life Insurance Company’s holdings in Generac were worth $88,944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of Generac during the third quarter worth approximately $119,000. Dynamic Technology Lab Private Ltd lifted its position in Generac by 77.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 2,753 shares of the technology company’s stock worth $437,000 after purchasing an additional 1,201 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Generac by 194.4% in the third quarter. Daiwa Securities Group Inc. now owns 7,175 shares of the technology company’s stock valued at $1,140,000 after buying an additional 4,738 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Generac by 0.4% in the third quarter. Cerity Partners LLC now owns 49,984 shares of the technology company’s stock valued at $7,941,000 after buying an additional 176 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Generac by 2,060.5% in the third quarter. Icon Wealth Advisors LLC now owns 18,191 shares of the technology company’s stock valued at $2,890,000 after buying an additional 17,349 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Generac Stock Down 1.0 %

GNRC stock opened at $190.40 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The company has a 50-day moving average of $170.09 and a two-hundred day moving average of $154.43. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 6.8 EPS for the current year.

Insider Buying and Selling at Generac

In related news, CFO York A. Ragen sold 29,081 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group boosted their target price on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial boosted their target price on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Canaccord Genuity Group upped their price target on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.58.

Generac 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.