38,817 Shares in Generac Holdings Inc. $GNRC Acquired by Swedbank AB

Key Points

• Swedbank AB initiated a new position in Generac Holdings, buying 38,817 shares valued at about $7.58 million in the first quarter.
• Several analysts remain constructive on GNRC, with recent price-target increases and a consensus rating of “Moderate Buy” with an average target of $284.18.
• Generac recently beat quarterly expectations, posting $1.80 EPS versus the $1.33 estimate and 12.5% year-over-year revenue growth; the stock was trading at $234.37, below its recent average levels.

Swedbank AB bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,817 shares of the technology company's stock, valued at approximately $7,582,000. Swedbank AB owned 0.07% of Generac as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GNRC. MUFG Securities EMEA plc purchased a new stake in shares of Generac during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Generac during the third quarter valued at about $26,000. GHP Investment Advisors Inc. purchased a new position in Generac in the first quarter valued at about $36,000. Root Financial Partners LLC raised its holdings in Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 54 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Generac by 33.8% in the fourth quarter. IFP Advisors Inc now owns 435 shares of the technology company's stock worth $59,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 84.04% of the company's stock.

Insiders Place Their Bets

In related news, insider Norman P. Taffe sold 550 shares of the firm's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the transaction, the insider owned 15,808 shares in the company, valued at $4,046,848. This trade represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company's stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,100 shares of company stock valued at $1,651,443. Corporate insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GNRC shares. Wells Fargo & Company raised their price target on shares of Generac from $238.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Weiss Ratings raised shares of Generac from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 30th. TD Cowen raised their target price on shares of Generac from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $275.00 price target on shares of Generac in a report on Thursday, April 30th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Generac in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $284.18.

Generac Stock Performance

Shares of Generac stock traded down $1.49 during midday trading on Friday, hitting $234.37. The company had a trading volume of 750,489 shares, compared to its average volume of 888,353. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 73.47, a PEG ratio of 2.21 and a beta of 1.89. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $266.52 and a 200 day simple moving average of $217.32. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. As a group, analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal 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.

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