Jennison Associates LLC Acquires 4,985 Shares of Generac Holdings Inc. $GNRC

Jennison Associates LLC boosted its holdings in Generac Holdings Inc. (NYSE:GNRC) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 520,628 shares of the technology company’s stock after buying an additional 4,985 shares during the period. Jennison Associates LLC owned approximately 0.89% of Generac worth $101,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System raised its position in shares of Generac by 0.9% during the 1st quarter. California Public Employees Retirement System now owns 115,000 shares of the technology company’s stock valued at $22,463,000 after acquiring an additional 1,070 shares during the last quarter. Ranch Capital Advisors Inc. bought a new position in shares of Generac in the 1st quarter worth $357,000. Assetmark Inc. grew its stake in shares of Generac by 233.3% during the first quarter. Assetmark Inc. now owns 260 shares of the technology company’s stock worth $51,000 after purchasing an additional 182 shares during the period. Avalon Trust Co acquired a new stake in shares of Generac during the first quarter worth $32,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Generac by 52.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,418 shares of the technology company’s stock valued at $3,865,000 after purchasing an additional 6,682 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing 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 Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the transaction, the insider directly owned 15,808 shares in the company, valued at approximately $4,046,848. The trade was a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,100 shares of company stock valued at $1,651,443 over the last quarter. 2.40% of the stock is owned by insiders.

Generac Stock Performance

GNRC stock opened at $214.55 on Monday. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market cap of $12.63 billion, a PE ratio of 67.26, a P/E/G ratio of 2.01 and a beta of 1.89. The business’s 50-day moving average price is $262.15 and its two-hundred day moving average price is $220.73.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. As a group, research analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Raymond James Financial set a $302.00 target price on Generac in a research report on Friday, May 22nd. Stifel Nicolaus set a $275.00 price target on Generac in a research note on Thursday, April 30th. Zacks Research downgraded shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group lifted their price objective on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $284.18.

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.