PenderFund Capital Management Ltd. Makes New $2.22 Million Investment in Generac Holdings Inc. $GNRC

PenderFund Capital Management Ltd. acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,570 shares of the technology company's stock, valued at approximately $2,217,000.

Several other large investors also recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of Generac by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company's stock valued at $309,000 after acquiring an additional 142 shares during the period. Woodline Partners LP lifted its stake in Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company's stock valued at $638,000 after purchasing an additional 1,463 shares during the last quarter. First Trust Advisors LP lifted its stake in Generac by 27.6% in the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company's stock valued at $14,507,000 after purchasing an additional 21,908 shares during the last quarter. Cerity Partners LLC grew its holdings in Generac by 1.6% during the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company's stock worth $7,239,000 after purchasing an additional 816 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Generac by 8.6% during the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock worth $14,929,000 after purchasing an additional 8,213 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GNRC. Needham & Company LLC upped their price objective on Generac from $282.00 to $283.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. TD Cowen reiterated a "buy" rating on shares of Generac in a research note on Monday, July 20th. Cantor Fitzgerald lifted their target price on Generac from $325.00 to $333.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Wall Street Zen raised Generac from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded Generac from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Generac presently has a consensus rating of "Moderate Buy" and an average price target of $284.84.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the transaction, the insider directly owned 10,746 shares in the company, valued at approximately $2,292,659.10. This represents a 5.17% decrease in their ownership of the stock. 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 quarter, insiders have sold 12,236 shares of company stock worth $2,871,273. Company insiders own 2.40% of the company's stock.

Generac Stock Down 3.9%

Shares of GNRC opened at $198.52 on Friday. The firm has a market cap of $11.71 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The firm's 50-day simple moving average is $228.20 and its 200 day simple moving average is $230.48.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $1.65 earnings per share. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

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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