Wellington Management Group LLP Has $50.70 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Wellington Management Group LLP grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 432.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 392,270 shares of the technology company’s stock after purchasing an additional 318,664 shares during the period. Wellington Management Group LLP’s holdings in Generac were worth $50,697,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of Generac during the fourth quarter valued at about $28,000. ORG Partners LLC acquired a new position in shares of Generac during the fourth quarter valued at about $38,000. Quarry LP raised its position in shares of Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after buying an additional 202 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Generac by 89.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock valued at $40,000 after buying an additional 147 shares during the last quarter. Finally, Operose Advisors LLC acquired a new position in shares of Generac during the third quarter valued at about $40,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the transaction, the chief executive officer now directly owns 592,177 shares in the company, valued at $75,170,948.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the transaction, the chief executive officer now directly owns 592,177 shares in the company, valued at $75,170,948.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,785 shares of company stock worth $11,688,161. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Janney Montgomery Scott cut shares of Generac from a “buy” rating to a “neutral” rating and upped their target price for the company from $126.00 to $154.00 in a research note on Thursday, June 13th. OTR Global raised shares of Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. Guggenheim cut shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price on the stock. in a research note on Thursday, May 30th. Finally, Canaccord Genuity Group upped their target price on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $141.67.

Generac Price Performance

Shares of GNRC stock opened at $137.00 on Friday. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $156.95. The firm’s 50 day moving average is $139.74 and its 200-day moving average is $127.65. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 1.87 and a beta of 1.44. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The company had revenue of $889.27 million for the quarter, compared to analyst estimates of $886.60 million. During the same period in the prior year, the business earned $0.63 earnings per share. Generac’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Generac Holdings Inc. will post 6.14 EPS for the current fiscal 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.