Bank of Nova Scotia lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 48.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,034 shares of the technology company's stock after selling 1,908 shares during the period. Bank of Nova Scotia's holdings in Generac were worth $258,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. raised its stake in Generac by 9.0% in the 1st quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock worth $102,873,000 after acquiring an additional 67,180 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Generac by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company's stock worth $112,961,000 after acquiring an additional 16,954 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Generac by 27.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock worth $110,544,000 after acquiring an additional 153,141 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Generac by 5.3% in the first quarter. Jennison Associates LLC now owns 708,052 shares of the technology company's stock valued at $89,675,000 after purchasing an additional 35,839 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Generac by 4.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 564,856 shares of the technology company's stock worth $71,539,000 after buying an additional 22,659 shares during the last quarter. Institutional investors own 84.04% of the company's stock.
Insider Buying and Selling at Generac
In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares in the company, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Citigroup upgraded Generac from a "neutral" rating to a "mixed" rating in a research note on Friday, July 11th. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. TD Securities dropped their price objective on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays set a $200.00 price objective on shares of Generac and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, TD Cowen boosted their price objective on shares of Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Generac presently has an average rating of "Moderate Buy" and an average price target of $170.06.
Get Our Latest Research Report on Generac
Generac Stock Performance
GNRC stock traded up $0.31 during midday trading on Monday, hitting $196.56. The company's stock had a trading volume of 833,075 shares, compared to its average volume of 940,606. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.56 and a beta of 1.68. The stock's 50-day moving average price is $149.14 and its 200 day moving average price is $135.54. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $200.41. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.
Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $1.35 earnings per share. On average, equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.
Generac Profile
(
Free Report)
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.
Featured Stories

Before you consider Generac, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Generac wasn't on the list.
While Generac currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.