PDT Partners LLC Acquires New Shares in Generac Holdings Inc. (NYSE:GNRC)

PDT Partners LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,880 shares of the technology company’s stock, valued at approximately $1,093,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingfisher Capital LLC lifted its holdings in shares of Generac by 45.8% during the 3rd quarter. Kingfisher Capital LLC now owns 2,867 shares of the technology company’s stock valued at $456,000 after purchasing an additional 900 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its stake in Generac by 25.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,750 shares of the technology company’s stock valued at $278,000 after buying an additional 350 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Generac by 1.9% during the third quarter. Public Sector Pension Investment Board now owns 10,477 shares of the technology company’s stock worth $1,665,000 after acquiring an additional 200 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Generac by 54.1% during the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock worth $1,904,000 after acquiring an additional 4,209 shares during the period. Finally, Townsquare Capital LLC lifted its position in Generac by 9.0% in the 3rd quarter. Townsquare Capital LLC now owns 3,110 shares of the technology company’s stock valued at $494,000 after acquiring an additional 258 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GNRC has been the topic of several recent research reports. TD Cowen lifted their price target on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird lowered their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Truist Financial increased their target price on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.58.

Generac Trading Down 1.2 %

Shares of GNRC stock opened at $188.20 on Monday. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The firm has a 50 day moving average price of $172.92 and a two-hundred day moving average price of $155.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $11.20 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.31 and a beta of 1.37.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 EPS. As a group, analysts predict that Generac Holdings Inc. will post 6.8 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 in the last quarter. 2.90% of the stock is currently owned by corporate 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.