Norges Bank Purchases Shares of 586,344 Generac Holdings Inc. (NYSE:GNRC)

Norges Bank acquired a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 586,344 shares of the technology company's stock, valued at approximately $90,913,000. Norges Bank owned 0.99% of Generac at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Generac by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company's stock valued at $1,053,650,000 after purchasing an additional 47,450 shares during the period. Boston Partners increased its stake in shares of Generac by 39.0% during the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company's stock worth $295,123,000 after acquiring an additional 533,612 shares during the period. Jennison Associates LLC raised its holdings in Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company's stock worth $104,227,000 after purchasing an additional 384,434 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Generac by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,986 shares of the technology company's stock valued at $86,516,000 after purchasing an additional 2,015 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Generac by 3.3% in the 4th quarter. Blair William & Co. IL now owns 513,449 shares of the technology company's stock valued at $79,610,000 after purchasing an additional 16,432 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were 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 of the company's stock, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on GNRC. Bank of America began coverage on Generac in a report on Monday, March 24th. They issued a "buy" rating and a $182.00 price target for the company. Wells Fargo & Company decreased their target price on shares of Generac from $175.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus cut their price target on shares of Generac from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Truist Financial lowered their target price on shares of Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, Robert W. Baird reduced their price target on shares of Generac from $172.00 to $171.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Generac presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.60.

Generac Trading Down 3.2 %

Shares of NYSE GNRC traded down $3.67 during midday trading on Friday, reaching $111.97. 1,877,611 shares of the stock were exchanged, compared to its average volume of 880,952. The stock has a 50 day moving average price of $136.90 and a 200-day moving average price of $156.99. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.67 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.44 and a beta of 1.58. Generac Holdings Inc. has a 52-week low of $105.41 and a 52-week high of $195.94.

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