Mitsubishi UFJ Asset Management Co. Ltd. Acquires 13,842 Shares of Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Generac Holdings Inc. by 30%, owning 60,007 shares valued at $7.60 million as of the latest Form 13F filing.
• Generac received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and a price target averaging $170.06.
• CEO Aaron Jagdfeld sold 5,000 shares of Generac at $142.40 each, reducing his stake to approximately 562,966 shares valued at over $80 million.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 30.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,007 shares of the technology company's stock after buying an additional 13,842 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Generac worth $7,600,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in Generac by 0.8% in the fourth quarter. Legal & General Group Plc now owns 89,342 shares of the technology company's stock valued at $13,852,000 after buying an additional 738 shares during the period. Bank of Nova Scotia grew its position in Generac by 62.5% in the 4th quarter. Bank of Nova Scotia now owns 3,942 shares of the technology company's stock worth $611,000 after purchasing an additional 1,516 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Generac during the 4th quarter valued at approximately $46,785,000. Treasurer of the State of North Carolina grew its position in shares of Generac by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 25,885 shares of the technology company's stock valued at $4,013,000 after acquiring an additional 160 shares during the period. Finally, Covestor Ltd grew its position in shares of Generac by 33.9% during the 4th quarter. Covestor Ltd now owns 513 shares of the technology company's stock valued at $80,000 after acquiring an additional 130 shares during the period. Institutional investors own 84.04% of the company's stock.

Analyst Ratings Changes

GNRC has been the subject of a number of research reports. Guggenheim raised shares of Generac from a "neutral" rating to a "buy" rating and set a $190.00 target price for the company in a research report on Tuesday, July 29th. Stephens reissued an "overweight" rating and set a $175.00 target price on shares of Generac in a research report on Tuesday, May 27th. Citigroup raised shares of Generac from a "neutral" rating to a "mixed" rating in a research report on Friday, July 11th. TD Securities reduced their target price on shares of Generac from $173.00 to $155.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Barclays set a $200.00 price target on shares of Generac and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $170.06.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the transaction, the chief executive officer owned 562,966 shares of the company's stock, valued at $80,166,358.40. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by insiders.

Generac Price Performance

NYSE GNRC traded down $3.82 on Thursday, hitting $199.03. The stock had a trading volume of 789,175 shares, compared to its average volume of 939,900. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 1.59 and a beta of 1.68. The firm has a 50-day moving average of $153.58 and a 200-day moving average of $136.71.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.35 EPS. Equities analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

Generac Company Profile

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.