Mackenzie Financial Corp Increases Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Mackenzie Financial Corp increased its holdings in Generac Holdings Inc. by 35.1% in the first quarter, now owning approximately 0.94% of the company, valued at $70.8 million.
• CEO Aaron Jagdfeld sold 5,000 shares of Generac at an average price of $142.40, reducing his ownership by 0.88% to approximately $80.2 million.
• Generac's stock has a current market cap of $9.19 billion, with a twelve month low of $99.50 and a high of $195.94, following a quarter where earnings outperformed expectations.

Mackenzie Financial Corp grew its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 35.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 558,770 shares of the technology company's stock after acquiring an additional 145,103 shares during the period. Mackenzie Financial Corp owned about 0.94% of Generac worth $70,768,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GNRC. American Century Companies Inc. increased its stake in Generac by 16.2% during the fourth quarter. American Century Companies Inc. now owns 61,184 shares of the technology company's stock worth $9,487,000 after purchasing an additional 8,549 shares during the period. LPL Financial LLC increased its stake in Generac by 14.8% during the fourth quarter. LPL Financial LLC now owns 97,492 shares of the technology company's stock worth $15,116,000 after purchasing an additional 12,548 shares during the period. WINTON GROUP Ltd purchased a new stake in Generac during the fourth quarter worth about $474,000. UniSuper Management Pty Ltd increased its stake in Generac by 6.0% during the fourth quarter. UniSuper Management Pty Ltd now owns 9,849 shares of the technology company's stock worth $1,527,000 after purchasing an additional 554 shares during the period. Finally, Norges Bank purchased a new stake in shares of Generac during the fourth quarter worth approximately $90,913,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the transaction, the chief executive officer owned 562,966 shares in the company, valued at $80,166,358.40. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GNRC shares. Wall Street Zen upgraded shares of Generac from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Robert W. Baird cut their target price 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. UBS Group restated a "buy" rating and set a $220.00 target price (up from $200.00) on shares of Generac in a research note on Thursday. TD Cowen upped their target price on shares of Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Piper Sandler dropped their price target on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Generac presently has a consensus rating of "Moderate Buy" and an average price target of $174.58.

Generac Price Performance

Generac stock traded down $1.88 during midday trading on Friday, reaching $192.81. The company's stock had a trading volume of 1,209,962 shares, compared to its average volume of 936,957. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $197.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 2.00. The stock's 50 day simple moving average is $139.18 and its 200 day simple moving average is $134.20. The firm has a market capitalization of $11.39 billion, a PE ratio of 32.03, a P/E/G ratio of 1.64 and a beta of 1.72.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.65 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.35 earnings per share. Generac's quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.

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.