E. Ohman J or Asset Management AB Invests $19.97 Million in Generac Holdings Inc. $GNRC

E. Ohman J or Asset Management AB purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 102,245 shares of the technology company’s stock, valued at approximately $19,972,000.

Several other institutional investors have also modified their holdings of GNRC. DAVENPORT & Co LLC boosted its holdings in shares of Generac by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after buying an additional 16,229 shares during the period. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Generac during the third quarter worth $2,159,000. Private Advisory Group LLC raised its holdings in shares of Generac by 26.2% during the fourth quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company’s stock worth $8,016,000 after acquiring an additional 12,191 shares during the period. Lighthouse Investment Partners LLC lifted its position in Generac by 556.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock valued at $8,689,000 after acquiring an additional 43,999 shares in the last quarter. Finally, Altman Advisors Inc. bought a new stake in Generac in the 3rd quarter valued at $1,807,000. Institutional investors own 84.04% of the company’s stock.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider directly owned 16,108 shares of the company’s stock, valued at $4,385,564.08. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GNRC. Bank of America reduced their target price on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Weiss Ratings downgraded Generac from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. Stifel Nicolaus set a $275.00 price objective on Generac in a research report on Thursday, April 30th. Finally, Roth Mkm reiterated a “neutral” rating and set a $257.00 price objective on shares of Generac in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.65.

Generac Stock Performance

Shares of GNRC opened at $279.09 on Friday. Generac Holdings Inc. has a 12 month low of $125.80 and a 12 month high of $294.18. The firm has a fifty day simple moving average of $251.44 and a 200 day simple moving average of $205.86. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 87.49, a PEG ratio of 2.61 and a beta of 1.93. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Generac Company 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.