Maverick Capital Ltd. Makes New Investment in Generac Holdings Inc. $GNRC

Key Points

• Maverick Capital initiated a Generac stake of 6,487 shares valued at approximately $1.27 million. Institutional investors and hedge funds collectively own 84.04% of GNRC.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $286.44; recent targets range as high as $335.
• Generac exceeded quarterly expectations, reporting $1.80 in EPS versus a $1.33 consensus estimate and $1.06 billion in revenue, up 12.5% year over year. Meanwhile, insiders sold 6,100 shares worth about $1.65 million over the past three months.

Maverick Capital Ltd. bought a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,487 shares of the technology company's stock, valued at approximately $1,267,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Invesco Ltd. increased its holdings in Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock valued at $330,557,000 after purchasing an additional 806,430 shares in the last quarter. Diamant Asset Management Inc. boosted its stake in Generac by 19,433.0% in the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company's stock worth $130,104,000 after purchasing an additional 662,665 shares in the last quarter. Bank of Montreal Can boosted its stake in Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock worth $94,859,000 after purchasing an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Generac by 127.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company's stock worth $130,825,000 after purchasing an additional 536,732 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Generac during the fourth quarter worth $68,590,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GNRC. UBS Group lifted their price target on Generac from $305.00 to $335.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Argus boosted their target price on shares of Generac from $255.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Zacks Research lowered shares of Generac from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th. Cantor Fitzgerald started coverage on shares of Generac in a report on Wednesday, July 22nd. They issued an "overweight" rating and a $325.00 price target for the company. Finally, Roth Capital restated a "neutral" rating and issued a $257.00 price objective on shares of Generac in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $286.44.

Generac Stock Performance

Shares of GNRC stock opened at $197.06 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The stock has a market cap of $11.60 billion, a PE ratio of 61.78, a price-to-earnings-growth ratio of 1.89 and a beta of 1.89. The stock has a 50-day moving average of $255.16 and a 200-day moving average of $223.59. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. As a group, sell-side analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company's stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the transaction, the insider directly owned 15,808 shares of the company's stock, valued at $4,046,848. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,100 shares of company stock worth $1,651,443. Insiders own 2.40% 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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