Swiss National Bank Trims Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• The Swiss National Bank reduced its stake in Generac Holdings Inc. by 2.5% during the first quarter, now holding 115,300 shares valued at approximately $14.6 million.
• Other institutional investors, including Vanguard Group and Brown Advisory, have increased their holdings, with Vanguard acquiring an additional 137,363 shares, bringing its total to 6.9 million shares worth about $878 million.
• Generac's stock received a mix of ratings from analysts, with a consensus of "Moderate Buy" and an average price target of approximately $170.06.

Swiss National Bank cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,300 shares of the technology company's stock after selling 3,000 shares during the quarter. Swiss National Bank owned about 0.19% of Generac worth $14,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake 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 acquiring an additional 137,363 shares during the last quarter. Brown Advisory Inc. increased its stake in Generac by 9.0% during the first quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock worth $102,873,000 after acquiring an additional 67,180 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Generac by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company's stock worth $112,961,000 after acquiring an additional 16,954 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Generac by 27.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock worth $110,544,000 after acquiring an additional 153,141 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Generac by 5.3% during the first quarter. Jennison Associates LLC now owns 708,052 shares of the technology company's stock worth $89,675,000 after acquiring an additional 35,839 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several research analyst reports. Janney Montgomery Scott upgraded Generac from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Stifel Nicolaus upped their price target on Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Stephens restated an "overweight" rating and set a $175.00 price target on shares of Generac in a research note on Tuesday, May 27th. Citigroup upgraded Generac from a "neutral" rating to a "mixed" rating in a report on Friday, July 11th. Finally, Robert W. Baird dropped their target price on Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $170.06.

Generac Price Performance

Shares of NYSE GNRC opened at $202.86 on Thursday. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25. The business has a 50 day moving average price of $153.58 and a two-hundred day moving average price of $136.71. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The firm has a market cap of $11.90 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 1.59 and a beta of 1.68.

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

Insiders Place Their Bets

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

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.

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