Norges Bank Takes $67.25 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Norges Bank purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRCFree Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 520,370 shares of the technology company’s stock, valued at approximately $67,253,000. Norges Bank owned 0.85% of Generac at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GNRC. Ariel Investments LLC lifted its holdings in shares of Generac by 14.9% during the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after purchasing an additional 261,050 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Generac by 42.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 650,139 shares of the technology company’s stock worth $70,839,000 after purchasing an additional 194,265 shares during the period. Blair William & Co. IL raised its position in Generac by 108.6% in the third quarter. Blair William & Co. IL now owns 284,345 shares of the technology company’s stock worth $30,982,000 after acquiring an additional 148,017 shares in the last quarter. Invesco Ltd. raised its position in Generac by 9.9% in the third 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. Finally, International Assets Investment Management LLC purchased a new position in Generac in the fourth quarter worth $17,956,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GNRC has been the subject of several research analyst reports. Truist Financial increased their price objective on Generac from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Roth Mkm increased their price objective on Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $149.00 price target on shares of Generac in a research report on Thursday, May 23rd. Guggenheim cut Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. Finally, TD Cowen dropped their price target on Generac from $165.00 to $144.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Generac has an average rating of “Moderate Buy” and an average price target of $142.15.

Read Our Latest Stock Analysis on Generac

Generac Stock Up 3.1 %

Shares of NYSE:GNRC opened at $148.66 on Tuesday. The stock’s 50-day moving average price is $133.62 and its two-hundred day moving average price is $123.77. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $156.95. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 2.04 and a beta of 1.41.

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

Insider Activity

In other news, EVP Erik Wilde sold 4,384 shares of Generac stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total value of $675,311.36. Following the transaction, the executive vice president now directly owns 17,897 shares of the company’s stock, valued at approximately $2,756,853.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Erik Wilde sold 4,384 shares of Generac stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total value of $675,311.36. Following the transaction, the executive vice president now directly owns 17,897 shares of the company’s stock, valued at approximately $2,756,853.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nam Tran Nguyen sold 546 shares of Generac stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $140.55, for a total value of $76,740.30. Following the completion of the transaction, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The disclosure for this sale can be found here. Insiders have sold 14,930 shares of company stock valued at $2,086,502 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Generac Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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