Nordea Investment Management AB Takes Position in Generac Holdings Inc. (NYSE:GNRC)

Nordea Investment Management AB purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 33,705 shares of the technology company’s stock, valued at approximately $5,229,000. Nordea Investment Management AB owned approximately 0.06% of Generac at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sunbelt Securities Inc. grew its stake in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Modus Advisors LLC acquired a new position in Generac in the 4th quarter valued at $27,000. Versant Capital Management Inc grew its stake in Generac by 391.9% in the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after buying an additional 145 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Generac in the 3rd quarter worth $31,000. Finally, SouthState Corp acquired a new stake in Generac in the 3rd quarter worth $32,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GNRC shares. Piper Sandler raised their price target on shares of Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Stifel Nicolaus raised their price objective on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Robert W. Baird reduced their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.80.

Generac Trading Down 0.7 %

Shares of GNRC stock opened at $157.44 on Friday. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The company has a market capitalization of $9.37 billion, a P/E ratio of 32.66, a P/E/G ratio of 2.04 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $173.34 and a 200 day moving average price of $159.56.

Generac (NYSE:GNRC) last announced its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the sale, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total transaction of $787,500.00. Following the sale, the chief executive officer now owns 570,825 shares of the company’s stock, valued at approximately $89,904,937.50. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,268 shares of company stock valued at $7,577,703. Insiders own 2.90% of the company’s stock.

Generac Profile

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.