Connor Clark & Lunn Investment Management Ltd. Invests $3.30 Million in Generac Holdings Inc. (NYSE:GNRC)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,770 shares of the technology company’s stock, valued at approximately $3,300,000.

Several other large investors have also recently added to or reduced their stakes in GNRC. EntryPoint Capital LLC lifted its position in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after buying an additional 90 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares during the period. SouthState Corp bought a new position in shares of Generac during the third quarter valued at approximately $32,000. Capital Advisors Ltd. LLC raised its position in shares of Generac by 611.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after purchasing an additional 220 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Generac by 73.5% in the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Generac

In other news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the sale, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the transaction, the chief executive officer now owns 557,177 shares in the company, valued at $92,825,688.20. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GNRC has been the topic of several analyst reports. Piper Sandler increased their target price on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group lifted their target price on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial increased their price target on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Citigroup raised their target price on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.58.

Generac Stock Performance

Generac stock opened at $189.08 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The company has a market cap of $11.25 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The firm’s 50 day simple moving average is $168.12 and its 200-day simple moving average is $153.56.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Generac Holdings Inc. will post 6.8 EPS for the current year.

About Generac

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.