Ninety One UK Ltd Has $65.66 Million Stock Holdings in Generac Holdings Inc. $GNRC

Key Points

• Ninety One UK Ltd boosted its stake in Generac by 71.8% to 481,490 shares, worth $65.66 million and representing about 0.82% of the company.
• Several other large institutional investors also increased positions (e.g., Massachusetts Financial Services +127% to 959,337 shares; Victory Capital raised its holding), and institutional ownership of GNRC is 84.04%.
• Analysts have a consensus Moderate Buy rating with an average price target of $234.63 (individual targets up to $300), while Generac recently missed quarterly EPS and saw revenue decline 11.6% year‑over‑year; the stock trades at roughly a 79x PE with a $12.42 billion market cap.

Ninety One UK Ltd lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 71.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 481,490 shares of the technology company's stock after buying an additional 201,262 shares during the quarter. Ninety One UK Ltd owned about 0.82% of Generac worth $65,661,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GNRC. Massachusetts Financial Services Co. MA lifted its stake in shares of Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company's stock worth $130,825,000 after buying an additional 536,732 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company's stock worth $355,530,000 after buying an additional 324,809 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Generac by 346.6% during the 2nd quarter. Holocene Advisors LP now owns 356,623 shares of the technology company's stock worth $51,072,000 after buying an additional 276,775 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of Generac during the 2nd quarter worth about $38,079,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Generac by 20.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company's stock worth $184,870,000 after buying an additional 189,457 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GNRC. Zacks Research upgraded shares of Generac from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 19th. Stifel Nicolaus set a $235.00 price objective on shares of Generac in a research note on Thursday, February 12th. Needham & Company LLC reiterated a "buy" rating and issued a $277.00 price objective on shares of Generac in a research note on Thursday, March 26th. Canaccord Genuity Group lifted their price objective on shares of Generac from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, April 1st. Finally, Citigroup cut shares of Generac from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $207.00 to $237.00 in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.63.

Generac Price Performance

Shares of NYSE:GNRC opened at $211.65 on Friday. The firm has a 50 day moving average of $209.56 and a 200-day moving average of $178.09. The stock has a market capitalization of $12.42 billion, a PE ratio of 78.97, a PEG ratio of 1.46 and a beta of 1.78. 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 Holdings Inc. has a 12 month low of $104.90 and a 12 month high of $241.09.

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

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company's stock.

Generac 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.

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