Burney Co. Purchases 366 Shares of Generac Holdings Inc. (NYSE:GNRC)

Burney Co. increased its position in Generac Holdings Inc. (NYSE:GNRC) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,395 shares of the technology company’s stock after acquiring an additional 366 shares during the period. Burney Co.’s holdings in Generac were worth $4,980,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GNRC. Bank Julius Baer & Co. Ltd Zurich raised its stake in Generac by 92,616.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,041,619 shares of the technology company’s stock valued at $304,467,000 after buying an additional 2,039,417 shares during the last quarter. FMR LLC increased its position in Generac by 41.1% during the first quarter. FMR LLC now owns 2,549,551 shares of the technology company’s stock valued at $275,377,000 after acquiring an additional 743,267 shares during the last quarter. Norges Bank purchased a new position in Generac in the fourth quarter worth about $59,121,000. Macquarie Group Ltd. grew its stake in shares of Generac by 61.8% during the 1st quarter. Macquarie Group Ltd. now owns 1,244,286 shares of the technology company’s stock valued at $134,395,000 after purchasing an additional 475,104 shares during the period. Finally, Brown Advisory Inc. increased its position in shares of Generac by 25.9% during the 1st quarter. Brown Advisory Inc. now owns 1,990,927 shares of the technology company’s stock valued at $215,040,000 after purchasing an additional 409,431 shares during the last quarter. 87.59% of the stock is owned by institutional investors.

Generac Trading Up 5.9 %

GNRC opened at $109.62 on Wednesday. The stock has a 50-day moving average of $102.72 and a 200 day moving average of $116.64. The company has a current ratio of 2.41, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $156.95. The firm has a market cap of $6.73 billion, a P/E ratio of 42.99, a P/E/G ratio of 1.93 and a beta of 1.31.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, November 1st. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.09. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Generac had a return on equity of 13.73% and a net margin of 4.72%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, research analysts forecast that Generac Holdings Inc. will post 5.35 EPS for the current year.

Analyst Upgrades and Downgrades

GNRC has been the subject of several recent research reports. Stephens restated an “overweight” rating and set a $175.00 target price on shares of Generac in a research report on Thursday, September 28th. BNP Paribas began coverage on Generac in a research report on Friday, October 20th. They issued an “underperform” rating and a $78.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of Generac from $154.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. StockNews.com initiated coverage on shares of Generac in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Citigroup lowered their price objective on Generac from $133.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.82.

Insiders Place Their Bets

In other news, EVP Rajendra Kumar Kanuru sold 250 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $120.23, for a total value of $30,057.50. Following the sale, the executive vice president now owns 16,118 shares of the company’s stock, valued at $1,937,867.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $95.26, for a total transaction of $476,300.00. Following the completion of the sale, the chief executive officer now directly owns 592,690 shares of the company’s stock, valued at $56,459,649.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 250 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $120.23, for a total transaction of $30,057.50. Following the completion of the transaction, the executive vice president now owns 16,118 shares in the company, valued at $1,937,867.14. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $1,675,768 over the last three months. 2.80% of the stock is owned by company insiders.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.