Invesco Ltd. Boosts Holdings in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Invesco Ltd. increased its holdings in Generac Holdings Inc. by 25.3% in Q1, now owning 1,414,514 shares valued at approximately $179 million, making up 2.39% of the company.
• Several hedge funds, including Vanguard Group and Brown Advisory, also raised their stakes in Generac, contributing to institutional ownership of 84.04% of the company's stock.
• Generac received positive analyst ratings, with TD Cowen raising the price target to $198 and a consensus rating of "Moderate Buy" indicating growth potential.

Invesco Ltd. grew its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 25.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,414,514 shares of the technology company's stock after purchasing an additional 285,388 shares during the period. Invesco Ltd. owned approximately 2.39% of Generac worth $179,148,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GNRC. Vanguard Group Inc. increased its stake in shares of Generac by 2.0% in the first quarter. Vanguard Group Inc. now owns 6,932,913 shares of the technology company's stock worth $878,053,000 after buying an additional 137,363 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Generac by 9.0% in the first quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock worth $102,873,000 after buying an additional 67,180 shares during the last quarter. Dimensional Fund Advisors LP increased 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 buying an additional 16,954 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Generac by 27.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock worth $110,544,000 after buying an additional 153,141 shares during the last quarter. Finally, Jennison Associates LLC increased its stake 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 worth $89,675,000 after buying an additional 35,839 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GNRC shares. TD Cowen lifted their price target on shares of Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Guggenheim upgraded shares of Generac from a "neutral" rating to a "buy" rating and set a $190.00 price target for the company in a research note on Tuesday, July 29th. Citigroup upgraded shares of Generac from a "neutral" rating to a "mixed" rating in a research note on Friday, July 11th. Roth Capital boosted their target price on shares of Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.06.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company'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 owned 562,966 shares in the company, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.70% of the company's stock.

Generac Stock Up 2.0%

Generac stock opened at $202.86 on Thursday. The company has a 50-day simple moving average of $153.58 and a 200-day simple moving average of $136.71. The firm has a market capitalization of $11.90 billion, a P/E ratio of 33.70, a P/E/G ratio of 1.59 and a beta of 1.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $203.25.

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

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.

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