Canada Pension Plan Investment Board Invests $10.92 Million in Generac Holdings Inc. $GNRC

Key Points

• Canada Pension Plan Investment Board acquired 37,300 Generac shares worth approximately $10.92 million, giving it a 0.06% stake. Institutional investors collectively own 84.04% of the company.
• Generac’s latest quarterly results exceeded expectations, with EPS of $2.91 versus the $2.01 consensus estimate and year-over-year revenue growth of 10.3%. Analysts maintain a “Moderate Buy” consensus with an average price target of $284.84.
• GNRC opened at $184.02, down 6.7%, and trades well below its 52-week high of $296.44. Company insiders have sold 12,236 shares worth $2.87 million over the past three months, primarily under pre-arranged trading plans.

Canada Pension Plan Investment Board acquired a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,300 shares of the technology company's stock, valued at approximately $10,922,000. Canada Pension Plan Investment Board owned approximately 0.06% of Generac at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GNRC. Nicollet Investment Management Inc. increased its holdings in Generac by 0.7% during the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company's stock worth $1,055,000 after purchasing an additional 50 shares during the period. Root Financial Partners LLC raised its position in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 54 shares in the last quarter. Gen Wealth Partners Inc boosted its stake in shares of Generac by 8.7% in the 4th quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company's stock valued at $92,000 after buying an additional 54 shares during the period. Meridian Financial Partners LLC boosted its stake in shares of Generac by 0.6% in the 4th quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company's stock valued at $1,371,000 after buying an additional 61 shares during the period. Finally, Essential Partners LLC grew its position in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after buying an additional 61 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Generac

In other news, insider Kyle Andrew Raabe sold 586 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the completion of the sale, the insider owned 10,746 shares in the company, valued at approximately $2,292,659.10. The trade was a 5.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company's stock, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock worth $2,871,273 over the last three months. Insiders own 2.40% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GNRC. Raymond James Financial set a $302.00 target price on shares of Generac in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Generac from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Stephens reiterated an "overweight" rating and set a $290.00 price target on shares of Generac in a report on Thursday, May 21st. DA Davidson set a $333.00 price objective on shares of Generac in a research report on Thursday, July 30th. Finally, TD Cowen restated a "buy" rating on shares of Generac in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Generac has a consensus rating of "Moderate Buy" and an average target price of $284.84.

Generac Trading Down 6.7%

NYSE:GNRC opened at $184.02 on Friday. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The stock has a market cap of $10.86 billion, a P/E ratio of 42.40, a P/E/G ratio of 1.57 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The stock has a 50-day simple moving average of $226.30 and a 200-day simple moving average of $230.15.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.90. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. As a group, analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Generac Profile

Generac Holdings Inc NYSE: GNRC is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac's product lineup addresses a broad range of customer needs.

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