90,000 Shares in Generac Holdings Inc. $GNRC Bought by Tredje AP fonden

Tredje AP fonden acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,000 shares of the technology company’s stock, valued at approximately $12,273,000.

Other hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC increased its position in Generac by 4.4% during the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock worth $53,190,000 after buying an additional 16,229 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Generac during the third quarter worth $70,744,000. Strs Ohio increased its position in Generac by 583.4% during the third quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock worth $9,725,000 after buying an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Generac by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock worth $100,031,000 after buying an additional 15,280 shares during the last quarter. Finally, Lighthouse Investment Partners LLC increased its position in Generac by 556.7% during the third quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock worth $8,689,000 after buying an additional 43,999 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GNRC shares. TD Cowen increased their target price on shares of Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group increased their target price on shares of Generac from $270.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Guggenheim reaffirmed a “neutral” rating and issued a $202.00 price target on shares of Generac in a research report on Tuesday, February 10th. Wells Fargo & Company raised their price target on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $257.00 price target on shares of Generac in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $270.31.

Generac Stock Down 3.7%

GNRC stock opened at $243.72 on Wednesday. Generac Holdings Inc. has a twelve month low of $118.09 and a twelve month high of $276.80. The company has a market cap of $14.35 billion, a PE ratio of 76.40, a price-to-earnings-growth ratio of 2.37 and a beta of 1.93. The business’s 50-day simple moving average is $220.11 and its 200 day simple moving average is $187.53. The company has a quick ratio of 0.99, a current ratio of 2.03 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, topping analysts’ consensus estimates of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

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.