KLP Kapitalforvaltning AS Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

KLP Kapitalforvaltning AS acquired a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,700 shares of the technology company's stock, valued at approximately $2,124,000.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in Generac in the 4th quarter valued at $5,229,000. Global Financial Private Client LLC purchased a new stake in shares of Generac during the 4th quarter worth approximately $614,000. Franklin Resources Inc. raised its stake in shares of Generac by 106.1% in the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company's stock valued at $4,998,000 after buying an additional 14,811 shares during the period. Glenmede Trust Co. NA raised its stake in Generac by 54.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company's stock valued at $1,904,000 after acquiring an additional 4,209 shares during the period. Finally, Barclays PLC raised its position in shares of Generac by 41.4% in the third quarter. Barclays PLC now owns 185,193 shares of the technology company's stock valued at $29,425,000 after purchasing an additional 54,202 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Guggenheim raised shares of Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Citigroup cut their price target on shares of Generac from $172.00 to $162.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Bank of America began coverage on shares of Generac in a report on Monday, March 24th. They issued a "buy" rating and a $182.00 price target on the stock. Barclays initiated coverage on Generac in a research note on Wednesday, December 4th. They set an "equal weight" rating and a $189.00 price objective for the company. Finally, Robert W. Baird decreased their target price on Generac from $172.00 to $171.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Generac currently has an average rating of "Moderate Buy" and a consensus price target of $174.38.

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Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the transaction, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. The trade was a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company's stock.

Generac Trading Down 0.3 %

GNRC traded down $0.35 on Tuesday, hitting $126.30. 825,247 shares of the company were exchanged, compared to its average volume of 887,534. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. Generac Holdings Inc. has a 12 month low of $122.90 and a 12 month high of $195.94. The firm has a fifty day simple moving average of $139.23 and a two-hundred day simple moving average of $157.60. The stock has a market capitalization of $7.53 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Sell-side analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current year.

Generac Company 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.