KLP Kapitalforvaltning AS Invests $2.12 Million in Generac Holdings Inc. (NYSE:GNRC)

KLP Kapitalforvaltning AS bought a new stake in Generac Holdings Inc. (NYSE:GNRC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,700 shares of the technology company’s stock, valued at approximately $2,124,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. American Century Companies Inc. lifted its position in shares of Generac by 16.2% in the fourth quarter. American Century Companies Inc. now owns 61,184 shares of the technology company’s stock valued at $9,487,000 after buying an additional 8,549 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Generac during the 4th quarter valued at $4,525,000. iA Global Asset Management Inc. boosted its position in Generac by 82.0% during the fourth quarter. iA Global Asset Management Inc. now owns 3,812 shares of the technology company’s stock worth $591,000 after purchasing an additional 1,717 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Generac by 28.5% in the fourth quarter. Teacher Retirement System of Texas now owns 16,342 shares of the technology company’s stock valued at $2,534,000 after purchasing an additional 3,621 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Generac during the 4th quarter worth about $237,000. Institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GNRC shares. Robert W. Baird lowered their price target on shares of Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Guggenheim upgraded Generac from a “sell” rating to a “neutral” rating in a research note on Monday, March 17th. Barclays assumed coverage on Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price target for the company. Stifel Nicolaus lowered their price objective on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group upped their price target on shares of Generac from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average target price of $174.38.

Generac Stock Performance

Shares of Generac stock opened at $131.19 on Friday. The company’s 50 day moving average price is $141.35 and its two-hundred day moving average price is $157.70. The firm has a market capitalization of $7.82 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.44 and a beta of 1.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. Generac Holdings Inc. has a fifty-two week low of $124.76 and a fifty-two week high of $195.94.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. On average, equities analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

About Generac

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.