Generac Holdings Inc. (NYSE:GNRC) Shares Purchased by CIBC Asset Management Inc

by · The Markets Daily

CIBC Asset Management Inc boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,520 shares of the technology company’s stock after buying an additional 119 shares during the quarter. CIBC Asset Management Inc’s holdings in Generac were worth $1,321,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Modus Advisors LLC purchased a new position in Generac during the fourth quarter worth about $27,000. Cranbrook Wealth Management LLC purchased a new position in Generac during the fourth quarter worth about $28,000. Versant Capital Management Inc boosted its stake in Generac by 391.9% during the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after buying an additional 145 shares during the period. Brooklyn Investment Group purchased a new position in shares of Generac in the third quarter valued at approximately $31,000. Finally, SouthState Corp purchased a new position in shares of Generac in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GNRC shares. Piper Sandler lowered their price objective on shares of Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Barclays started coverage on shares of Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price objective for the company. Truist Financial lowered their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. TD Cowen raised their price objective on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup lowered their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.00.

Read Our Latest Research Report on Generac

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at $82,129,498.75. The trade was a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Generac Stock Down 0.5 %

GNRC stock opened at $137.87 on Friday. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The company’s 50 day moving average is $153.28 and its two-hundred day moving average is $160.45. The stock has a market cap of $8.22 billion, a P/E ratio of 25.53, a PEG ratio of 1.44 and a beta of 1.42.

Generac (NYSE:GNRC – Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Generac Company Profile

(Free Report)

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.

Further Reading

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