Mackenzie Financial Corp Sells 23,584 Shares of Generac Holdings Inc. $GNRC

Key Points

• Mackenzie Financial Corp trimmed its Generac stake by 4.2% in Q3, selling 23,584 shares and now holds 533,354 shares (about 0.91% of the company) valued at roughly $89.3 million.
• CFO York A. Ragen sold 24,362 shares at an average price of $235.61 (≈$5.74M), reducing his ownership by 15.08% to 137,182 shares; insiders now own about 2.7% of the stock.
• Analysts remain broadly positive with a consensus rating of "Moderate Buy" and an average price target of $220.19, including notable upgrades and higher targets such as TD Cowen's $255 and JPMorgan's upgrade to "overweight".

Mackenzie Financial Corp trimmed its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533,354 shares of the technology company's stock after selling 23,584 shares during the period. Mackenzie Financial Corp owned 0.91% of Generac worth $89,283,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GNRC. Sentry Investment Management LLC lifted its position in Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. First Horizon Corp purchased a new stake in Generac in the third quarter worth about $28,000. MUFG Securities EMEA plc purchased a new stake in Generac in the second quarter worth about $25,000. Quent Capital LLC bought a new position in shares of Generac in the third quarter worth about $41,000. Finally, Red Tortoise LLC bought a new position in shares of Generac in the third quarter worth about $42,000. 84.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GNRC. Weiss Ratings reiterated a "hold (c)" rating on shares of Generac in a research note on Thursday, January 22nd. Stifel Nicolaus set a $235.00 target price on shares of Generac in a research note on Thursday, February 12th. JPMorgan Chase & Co. raised shares of Generac from a "neutral" rating to an "overweight" rating and set a $200.00 price target on the stock in a report on Monday, December 8th. TD Cowen upped their price target on shares of Generac from $220.00 to $255.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Finally, Guggenheim reissued a "neutral" rating and issued a $202.00 price objective on shares of Generac in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.19.

Insider Activity

In other news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares of the company's stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by insiders.

Generac Stock Performance

NYSE:GNRC opened at $212.60 on Thursday. The stock has a 50-day moving average price of $188.62 and a 200 day moving average price of $174.23. The stock has a market capitalization of $12.48 billion, a P/E ratio of 79.33, a P/E/G ratio of 1.53 and a beta of 1.74. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $241.09. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the firm posted $2.80 earnings per share. The firm's revenue for the quarter was down 11.6% on a year-over-year basis. Equities research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.