CIBC Asset Management Inc Has $1.34 Million Stock Position in Generac Holdings Inc. (NYSE:GNRC)

CIBC Asset Management Inc lifted its position in Generac Holdings Inc. (NYSE:GNRC) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,401 shares of the technology company’s stock after acquiring an additional 579 shares during the quarter. CIBC Asset Management Inc’s holdings in Generac were worth $1,335,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GNRC. ING Groep NV acquired a new stake in shares of Generac during the third quarter worth approximately $442,000. Huntington National Bank boosted its position in Generac by 1,145.7% during the third quarter. Huntington National Bank now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 401 shares during the last quarter. KBC Group NV grew its stake in Generac by 11.1% in the third quarter. KBC Group NV now owns 1,610 shares of the technology company’s stock valued at $256,000 after purchasing an additional 161 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Generac by 181.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,650 shares of the technology company’s stock worth $1,692,000 after purchasing an additional 6,872 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised its stake in shares of Generac by 3.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 49,446 shares of the technology company’s stock worth $7,856,000 after purchasing an additional 1,826 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of Generac stock opened at $180.19 on Thursday. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The firm has a market cap of $10.72 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37. The firm’s 50-day simple moving average is $165.55 and its 200-day simple moving average is $152.66.

Generac (NYSE:GNRC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. The company 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 was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. As a group, research analysts expect that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Insider Activity at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock valued at $7,584,853 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on GNRC. Stephens reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. Canaccord Genuity Group lifted their price objective on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Robert W. Baird decreased their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Stifel Nicolaus raised their price objective on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday. One research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.05.

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.