Jennison Associates LLC Boosts Position in Generac Holdings Inc. (NYSE:GNRC)

Jennison Associates LLC lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 5.3% 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 708,052 shares of the technology company's stock after buying an additional 35,839 shares during the quarter. Jennison Associates LLC owned approximately 1.19% of Generac worth $89,675,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Generac during the fourth quarter worth about $90,913,000. Arrowstreet Capital Limited Partnership lifted its position in Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company's stock valued at $161,684,000 after purchasing an additional 469,575 shares during the last quarter. Forest Avenue Capital Management LP purchased a new position in Generac in the 4th quarter worth approximately $49,313,000. Raymond James Financial Inc. bought a new position in shares of Generac in the 4th quarter worth $46,785,000. Finally, DAVENPORT & Co LLC raised its position in shares of Generac by 77.3% during the 1st quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company's stock valued at $60,077,000 after buying an additional 206,311 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Up 2.4%

Shares of NYSE GNRC opened at $153.28 on Friday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The company has a market cap of $9.06 billion, a PE ratio of 26.70, a P/E/G ratio of 1.35 and a beta of 1.72. The firm's 50 day moving average price is $134.55 and its 200-day moving average price is $134.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.27. The firm had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. Generac had a net margin of 7.68% and a return on equity of 18.90%. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. On average, equities research analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on GNRC. Barclays increased their target price on shares of Generac from $164.00 to $170.00 and gave the company an "equal weight" rating in a report on Friday. Robert W. Baird reduced their price target on Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. TD Cowen lowered their price objective on Generac from $173.00 to $155.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Bank of America started coverage on shares of Generac in a report on Monday, March 24th. They issued a "buy" rating and a $182.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on shares of Generac from $200.00 to $195.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.11.

About Generac

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.