Generac Holdings Inc. $GNRC Shares Sold by Boston Partners

Key Points

• Boston Partners reduced its stake in Generac Holdings by 2.6%, now holding approximately 1.85 million shares valued at $234.69 million.
• Generac reported a quarterly earnings per share (EPS) of $1.65, exceeding expectations, with revenue of $1.06 billion, a 6.3% increase year-over-year.
• Research analysts have varied opinions on Generac, with 14 buy ratings and an average price target of $170.06; however, some analysts have downgraded their ratings recently.

Boston Partners reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,853,666 shares of the technology company's stock after selling 49,631 shares during the period. Boston Partners owned about 3.14% of Generac worth $234,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. boosted its position in Generac by 25.3% in the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock valued at $179,148,000 after buying an additional 285,388 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Generac by 77.3% in the first quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company's stock worth $60,077,000 after acquiring an additional 206,311 shares in the last quarter. Nuveen LLC purchased a new position in Generac in the first quarter valued at about $23,375,000. Federated Hermes Inc. grew its stake in Generac by 51.0% during the 1st quarter. Federated Hermes Inc. now owns 458,335 shares of the technology company's stock valued at $58,048,000 after purchasing an additional 154,867 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Generac by 27.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock valued at $110,544,000 after purchasing an additional 153,141 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Performance

Shares of NYSE GNRC traded down $0.74 during mid-day trading on Monday, hitting $198.06. The company had a trading volume of 964,971 shares, compared to its average volume of 940,456. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $203.25. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 1.59 and a beta of 1.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The firm's 50 day simple moving average is $156.45 and its two-hundred day simple moving average is $137.17.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business posted $1.35 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.

Analysts Set New Price Targets

GNRC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Generac from a "neutral" rating to an "overweight" rating and upped their target price for the company from $56.00 to $68.00 in a research report on Monday, August 11th. TD Securities cut their price target on shares of Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Robert W. Baird reduced their price objective on shares of Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. TD Cowen raised 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. Finally, Wells Fargo & Company upped their target price on shares of Generac from $128.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $170.06.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the completion of the transaction, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

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.