Polymer Capital Management HK LTD Takes Position in Generac Holdings Inc. $GNRC

Polymer Capital Management HK LTD bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,000 shares of the technology company’s stock, valued at approximately $409,000.

Several other large investors also recently modified their holdings of GNRC. NewEdge Advisors LLC grew its holdings in shares of Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after purchasing an additional 142 shares in the last quarter. Woodline Partners LP increased its stake in shares of Generac by 40.9% in the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after buying an additional 1,463 shares during the period. First Trust Advisors LP raised its position in shares of Generac by 27.6% during the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock worth $14,507,000 after acquiring an additional 21,908 shares during the last quarter. Cerity Partners LLC raised its position in shares of Generac by 1.6% during the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after acquiring an additional 816 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Generac by 8.6% during the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after acquiring an additional 8,213 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Price Performance

Shares of NYSE:GNRC opened at $262.13 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The company has a market capitalization of $15.43 billion, a P/E ratio of 82.17, a price-to-earnings-growth ratio of 2.41 and a beta of 1.93. Generac Holdings Inc. has a fifty-two week low of $123.66 and a fifty-two week high of $294.18. The company’s 50-day moving average is $243.76 and its 200 day moving average is $201.53.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. On average, equities research analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Robert W. Baird set a $311.00 target price on Generac in a research note on Thursday, April 30th. Canaccord Genuity Group upped their target price on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Citigroup upped their target price on Generac from $226.00 to $263.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Finally, Raymond James Financial set a $302.00 target price on Generac in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $278.65.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider owned 16,108 shares of the company’s stock, valued at $4,385,564.08. The trade was a 3.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by corporate insiders.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.