Norges Bank Makes New Investment in Generac Holdings Inc. $GNRC

Norges Bank bought a new position in Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 502,969 shares of the technology company’s stock, valued at approximately $68,590,000. Norges Bank owned 0.86% of Generac as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Meridian Financial Partners LLC increased its stake in shares of Generac by 0.6% during the fourth quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock valued at $1,371,000 after buying an additional 61 shares during the period. Sentry Investment Management LLC increased its stake in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after buying an additional 67 shares during the period. Argent Trust Co increased its stake in shares of Generac by 2.3% during the third quarter. Argent Trust Co now owns 3,272 shares of the technology company’s stock valued at $548,000 after buying an additional 73 shares during the period. NewEdge Advisors LLC increased its stake in shares of Generac by 2.7% during the third quarter. NewEdge Advisors LLC now owns 2,749 shares of the technology company’s stock valued at $460,000 after buying an additional 73 shares during the period. Finally, Vident Advisory LLC increased its stake in shares of Generac by 2.9% during the third quarter. Vident Advisory LLC now owns 2,651 shares of the technology company’s stock valued at $444,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

GNRC opened at $261.39 on Friday. The business’s 50-day moving average is $237.45 and its two-hundred day moving average is $197.55. Generac Holdings Inc. has a 1 year low of $123.66 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The firm has a market capitalization of $15.39 billion, a PE ratio of 81.94, a price-to-earnings-growth ratio of 2.45 and a beta of 1.93.

Generac (NYSE:GNRC) last issued 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 business 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 company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Argus raised their price target on Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Robert W. Baird set a $311.00 price target on Generac in a research note on Thursday, April 30th. UBS Group raised their price target on Generac from $270.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Stephens reiterated an “overweight” rating and issued a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.88.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% of the company’s stock.

Generac Profile

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.