Massachusetts Financial Services Co. MA Boosts Stock Position in Generac Holdings Inc. $GNRC

Key Points

• Massachusetts Financial Services Co. increased its stake in Generac by 127% in Q4, owning 959,337 shares (about a 1.63% stake) valued at roughly $130.8 million.
• Generac missed Q results (EPS $1.61 vs. $1.81 expected) with revenue down 11.6% to $1.09 billion; the stock trades near $205, has a P/E of 76.48, and an average analyst target of $229.94 ("Moderate Buy").
• CFO York Ragen sold 24,362 shares for about $5.74 million (a 15.08% cut to his position); insiders own 2.70% of the company while institutional investors hold approximately 84.04%.

Massachusetts Financial Services Co. MA increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 127.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 959,337 shares of the technology company's stock after purchasing an additional 536,732 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.63% of Generac worth $130,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new stake in Generac during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Generac during the 3rd quarter worth about $26,000. First Horizon Corp purchased a new stake in Generac during the 3rd quarter worth about $28,000. Sentry Investment Management LLC increased its position in Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock worth $28,000 after purchasing an additional 67 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in Generac during the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

Wall Street Analyst Weigh In

GNRC has been the subject of a number of recent research reports. UBS Group reiterated a "buy" rating and set a $270.00 price objective on shares of Generac in a research report on Friday, February 13th. Guggenheim restated a "neutral" rating and issued a $202.00 price target on shares of Generac in a report on Tuesday, February 10th. Barclays lifted their price target on Generac from $213.00 to $228.00 and gave the company an "equal weight" rating in a report on Friday, March 27th. Jefferies Financial Group assumed coverage on Generac in a report on Friday, March 20th. They issued a "hold" rating and a $222.00 price target for the company. Finally, Roth Mkm restated a "neutral" rating and issued a $220.00 price target on shares of Generac in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and an average target price of $229.94.

Generac Stock Down 1.0%

Shares of NYSE:GNRC opened at $204.98 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. Generac Holdings Inc. has a 1 year low of $104.90 and a 1 year high of $241.09. The stock has a market capitalization of $12.03 billion, a P/E ratio of 76.48, a PEG ratio of 1.46 and a beta of 1.78. The stock has a 50-day simple moving average of $207.00 and a 200-day simple moving average of $177.08.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (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 firm had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The firm's revenue for the quarter was down 11.6% compared to the same quarter last year. Equities analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company's stock.

About Generac

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.

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