South Dakota Investment Council boosted its position in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 19.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,671 shares of the technology company's stock after acquiring an additional 7,930 shares during the period. South Dakota Investment Council owned 0.08% of Generac worth $8,848,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in GNRC. Vanguard Group Inc. increased its stake in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company's stock valued at $2,012,595,000 after acquiring an additional 130,854 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Generac by 5.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,393,799 shares of the technology company's stock valued at $714,666,000 after acquiring an additional 185,898 shares during the period. Artisan Partners Limited Partnership raised its position in Generac by 92.8% in the second quarter. Artisan Partners Limited Partnership now owns 1,692,209 shares of the technology company's stock worth $356,345,000 after purchasing an additional 814,325 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Generac by 19.5% during the second quarter. Champlain Investment Partners LLC now owns 1,293,350 shares of the technology company's stock worth $272,354,000 after purchasing an additional 211,470 shares during the period. Finally, Impax Asset Management Group plc boosted its holdings in Generac by 3.5% during the third quarter. Impax Asset Management Group plc now owns 876,077 shares of the technology company's stock valued at $155,216,000 after purchasing an additional 29,916 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.
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Insider Buying and Selling
In related news, Director Robert D. Dixon bought 2,000 shares of the company's stock in a transaction that occurred on Monday, December 5th. The shares were acquired at an average price of $97.27 per share, for a total transaction of $194,540.00. Following the completion of the acquisition, the director now owns 8,895 shares of the company's stock, valued at approximately $865,216.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
GNRC has been the subject of several analyst reports. Credit Suisse Group cut their target price on Generac from $165.00 to $159.00 and set an "outperform" rating for the company in a research report on Thursday. Stifel Nicolaus lowered their target price on shares of Generac from $150.00 to $98.00 and set a "hold" rating on the stock in a report on Tuesday, December 13th. Robert W. Baird downgraded shares of Generac from an "outperform" rating to a "neutral" rating and cut their price target for the company from $122.00 to $119.00 in a report on Tuesday, December 20th. Guggenheim lowered shares of Generac from a "buy" rating to a "neutral" rating in a research report on Friday. Finally, Argus lowered shares of Generac from a "buy" rating to a "hold" rating in a report on Friday, November 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Generac currently has a consensus rating of "Hold" and a consensus price target of $226.05.
Generac Stock Down 1.0 %
GNRC stock traded down $1.28 during trading hours on Monday, reaching $121.16. 202,508 shares of the stock were exchanged, compared to its average volume of 1,399,863. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.68 and a beta of 1.19. The firm's 50-day moving average is $103.89 and its 200-day moving average is $155.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 0.80. Generac Holdings Inc. has a 12 month low of $86.29 and a 12 month high of $329.50.
Generac Company Profile
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Generac Holdings, Inc engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the U.S. and Canada.
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