Polen Capital Management LLC Lowers Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Polen Capital Management LLC has reduced its stake in Generac Holdings Inc. by 24.8%, now owning approximately 33,409 shares worth $4.23 million.
• Several institutional investors, including Vanguard Group and Invesco, have increased their holdings in Generac, indicating strong interest in the company's stock.
• Generac reported a quarterly EPS of $1.65, exceeding analysts’ expectations, with revenues rising 6.3% year-over-year to $1.06 billion.

Polen Capital Management LLC lowered its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 24.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,409 shares of the technology company's stock after selling 11,007 shares during the period. Polen Capital Management LLC owned approximately 0.06% of Generac worth $4,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GNRC. Vanguard Group Inc. raised its holdings in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,932,913 shares of the technology company's stock worth $878,053,000 after purchasing an additional 137,363 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Generac by 25.3% in the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock valued at $179,148,000 after acquiring an additional 285,388 shares during the period. Brown Advisory Inc. increased its holdings in shares of Generac by 9.0% in the 1st quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock valued at $102,873,000 after acquiring an additional 67,180 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Generac by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company's stock valued at $112,961,000 after acquiring an additional 16,954 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Generac by 27.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock valued at $110,544,000 after acquiring an additional 153,141 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Generac from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Canaccord Genuity Group decreased their target price on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Piper Sandler decreased their target price on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company boosted their target price on shares of Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, TD Cowen boosted their target price on shares of Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Generac currently has a consensus rating of "Moderate Buy" and an average price target of $174.28.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.

Generac Trading Up 1.5%

Shares of GNRC stock opened at $196.49 on Friday. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $199.89. The firm has a 50-day moving average price of $149.14 and a 200 day moving average price of $135.68. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 1.56 and a beta of 1.68.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $1.35 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

About Generac

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.

Want to see what other hedge funds are holding GNRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Generac Holdings Inc. (NYSE:GNRC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.