Burgundy Asset Management Ltd. Increases Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Burgundy Asset Management Ltd. grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 422,628 shares of the technology company’s stock after purchasing an additional 7,045 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.70% of Generac worth $55,880,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GNRC. Capital World Investors raised its position in Generac by 2.1% in the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock worth $155,207,000 after acquiring an additional 25,646 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Generac in the 2nd quarter valued at about $98,282,000. Dimensional Fund Advisors LP increased its holdings in shares of Generac by 5.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after purchasing an additional 35,026 shares in the last quarter. Norges Bank acquired a new stake in shares of Generac in the fourth quarter valued at about $67,253,000. Finally, Ninety One UK Ltd boosted its holdings in Generac by 0.7% during the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after buying an additional 3,849 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the completion of the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GNRC. Oppenheimer downgraded shares of Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Truist Financial lifted their price objective on Generac from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Wells Fargo & Company upped their target price on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler lifted their price target on Generac from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Finally, Guggenheim lowered shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price objective on the stock. in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Generac presently has a consensus rating of “Hold” and a consensus target price of $154.71.

Generac Stock Performance

Shares of GNRC stock opened at $143.14 on Thursday. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. The company has a 50 day moving average price of $149.61 and a 200 day moving average price of $139.29. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $169.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company posted $1.08 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that Generac Holdings Inc. will post 6.52 EPS for the current year.

Generac Profile

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.