Invenomic Capital Management LP Takes $12.12 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Invenomic Capital Management LP bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 93,752 shares of the technology company’s stock, valued at approximately $12,117,000. Invenomic Capital Management LP owned about 0.15% of Generac as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ariel Investments LLC lifted its stake in Generac by 14.9% in the 3rd quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after acquiring an additional 261,050 shares in the last quarter. Invesco Ltd. lifted its stake in Generac by 9.9% in the 3rd quarter. Invesco Ltd. now owns 1,633,226 shares of the technology company’s stock worth $177,956,000 after acquiring an additional 147,523 shares in the last quarter. Capital World Investors purchased a new stake in Generac in the 4th quarter worth about $155,707,000. Northern Trust Corp lifted its stake in Generac by 9.0% in the 3rd quarter. Northern Trust Corp now owns 673,384 shares of the technology company’s stock worth $73,372,000 after acquiring an additional 55,812 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Generac by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 665,629 shares of the technology company’s stock worth $86,026,000 after acquiring an additional 15,490 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Erik Wilde sold 4,384 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total transaction of $675,311.36. Following the completion of the transaction, the executive vice president now owns 17,897 shares in the company, valued at approximately $2,756,853.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the sale, the chief executive officer now directly owns 592,177 shares of the company’s stock, valued at approximately $75,170,948.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Erik Wilde sold 4,384 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $154.04, for a total value of $675,311.36. Following the sale, the executive vice president now directly owns 17,897 shares of the company’s stock, valued at $2,756,853.88. The disclosure for this sale can be found here. Insiders sold 80,785 shares of company stock worth $11,688,161 in the last 90 days. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GNRC. Citigroup upped their target price on Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. TD Cowen dropped their target price on Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Robert W. Baird upped their target price on Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. OTR Global raised Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. Finally, Canaccord Genuity Group increased their price objective on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $141.05.

Generac Stock Performance

Shares of GNRC stock traded up $3.08 during mid-day trading on Monday, reaching $141.33. The stock had a trading volume of 352,283 shares, compared to its average volume of 1,036,372. The firm’s 50 day simple moving average is $138.69 and its 200 day simple moving average is $126.23. The company has a quick ratio of 0.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $156.95. The firm has a market cap of $8.57 billion, a PE ratio of 38.09, a P/E/G ratio of 1.89 and a beta of 1.45.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.72 by $0.16. The business had revenue of $889.27 million during the quarter, compared to the consensus estimate of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. Generac’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. On average, analysts forecast that Generac Holdings Inc. will post 6.08 EPS for the current 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.