Swedbank AB Acquires Shares of 38,817 Generac Holdings Inc. $GNRC

Swedbank AB acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,817 shares of the technology company’s stock, valued at approximately $7,582,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. DAVENPORT & Co LLC raised its holdings in Generac by 4.4% in the 4th quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after acquiring an additional 16,229 shares during the last quarter. Lighthouse Investment Partners LLC boosted its holdings in shares of Generac by 556.7% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock worth $8,689,000 after purchasing an additional 43,999 shares during the last quarter. Private Advisory Group LLC grew its position in shares of Generac by 26.2% in the fourth quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company’s stock valued at $8,016,000 after purchasing an additional 12,191 shares in the last quarter. Willis Investment Counsel grew its position in shares of Generac by 10.5% in the fourth quarter. Willis Investment Counsel now owns 143,137 shares of the technology company’s stock valued at $19,520,000 after purchasing an additional 13,553 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Generac by 42.8% in the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after purchasing an additional 27,893 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Buying and Selling

In other news, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total value of $140,800.00. Following the sale, the insider directly owned 15,808 shares of the company’s stock, valued at approximately $4,046,848. The trade was a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,100 shares of company stock worth $1,651,443 over the last three months. Insiders own 2.40% of the company’s stock.

Generac Trading Down 0.6%

Shares of NYSE GNRC traded down $1.49 during mid-day trading on Friday, reaching $234.37. 750,489 shares of the company’s stock were exchanged, compared to its average volume of 888,353. The company’s 50-day moving average is $266.52 and its 200-day moving average is $217.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 73.47, a PEG ratio of 2.21 and a beta of 1.89. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned $1.26 EPS. Generac’s revenue was up 12.5% on a year-over-year basis. Analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group boosted their price objective on Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. TD Cowen raised their target price on Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Citigroup boosted their price target on shares of Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Wells Fargo & Company upped their price objective on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Stephens restated an “overweight” rating and set a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $284.18.

About Generac

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.