Cibc World Market Inc. Invests $9.23 Million in Generac Holdings Inc. $GNRC

Cibc World Market Inc. acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,534 shares of the technology company’s stock, valued at approximately $9,233,000. Cibc World Market Inc. owned approximately 0.05% of Generac at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GNRC. BlackRock Inc. purchased a new position in Generac during the 2nd quarter valued at about $1,170,960,000. Invesco Ltd. raised its position in shares of Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares during the last quarter. State Street Corp lifted its stake in Generac by 2.1% in the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after buying an additional 45,592 shares in the last quarter. Boston Partners grew its holdings in Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after buying an additional 128,439 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Generac by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock worth $202,943,000 after buying an additional 6,332 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Stock Down 1.1%

NYSE GNRC opened at $203.66 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The business has a 50 day moving average price of $232.30 and a two-hundred day moving average price of $229.95. The stock has a market cap of $12.02 billion, a PE ratio of 46.93, a P/E/G ratio of 1.75 and a beta of 1.92.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, sell-side analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Analysts Set New Price Targets

GNRC has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and issued a $290.00 target price on shares of Generac in a report on Thursday, May 21st. Wells Fargo & Company lifted their price target on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Roth Capital set a $214.00 price target on shares of Generac in a research note on Thursday, July 30th. Finally, Zacks Research raised 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 assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $284.84.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction 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. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of Generac stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the sale, the insider directly owned 10,746 shares in the company, valued at approximately $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock worth $2,871,273 in the last quarter. 2.40% of the stock is owned by corporate insiders.

Generac Company 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.