The Manufacturers Life Insurance Company Cuts Stake in Generac Holdings Inc. $GNRC

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in Generac Holdings Inc. by 58.9%, selling 419,910 shares in Q1, which leaves it with 293,047 shares valued at $37.1 million.
• Generac's CEO, Aaron Jagdfeld, sold 5,000 shares at an average price of $142.40, resulting in a transaction of $712,000, while still maintaining a significant shareholding valued at over $80 million.
• Despite recent analyst upgrades and an increase in price targets, Generac's stock is currently experiencing a 1.0% decline in trading.

The Manufacturers Life Insurance Company decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 58.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 293,047 shares of the technology company's stock after selling 419,910 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.50% of Generac worth $37,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Generac in the 1st quarter worth approximately $28,000. Private Trust Co. NA grew its holdings in shares of Generac by 42.9% in the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after acquiring an additional 90 shares during the period. Colonial Trust Advisors grew its holdings in shares of Generac by 357.1% in the 1st quarter. Colonial Trust Advisors now owns 320 shares of the technology company's stock worth $41,000 after acquiring an additional 250 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Generac in the 1st quarter worth approximately $54,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Generac by 1,525.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 585 shares of the technology company's stock worth $74,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Trading Up 1.7%

Shares of GNRC traded up $3.02 during trading hours on Thursday, hitting $178.16. The stock had a trading volume of 736,760 shares, compared to its average volume of 930,490. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00. The firm has a market cap of $10.45 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.48 and a beta of 1.63. The company's fifty day simple moving average is $171.91 and its 200 day simple moving average is $141.19. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.32. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Generac had a return on equity of 19.14% and a net margin of 7.91%.The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. Generac has set its FY 2025 guidance at EPS. Equities research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total value of $906,050.00. Following the transaction, the chief executive officer directly owned 552,966 shares of the company's stock, valued at $100,202,968.86. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

GNRC has been the topic of a number of research reports. Janney Montgomery Scott upgraded Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. UBS Group reaffirmed a "buy" rating and issued a $220.00 target price (up previously from $200.00) on shares of Generac in a research note on Thursday, July 31st. Wells Fargo & Company upped their target price on Generac from $128.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Barclays set a $200.00 target price on Generac and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, 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 note on Monday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Generac currently has a consensus rating of "Moderate Buy" and an average price target of $174.56.

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.