E. Ohman J or Asset Management AB Makes New Investment in Generac Holdings Inc. $GNRC

Key Points

• E. Ohman J or Asset Management AB opened a new position in Generac during the first quarter, buying 102,245 shares worth about $20 million. The stake represented roughly 0.17% of the company.
• Institutional ownership remains heavy, with several large funds increasing their holdings and 84.04% of Generac shares now owned by institutional investors and hedge funds.
• Analysts are generally positive on GNRC: the stock has a Moderate Buy consensus rating and a consensus price target of $278.65, while the company also recently reported quarterly earnings and revenue that beat expectations.

E. Ohman J or Asset Management AB acquired a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 102,245 shares of the technology company's stock, valued at approximately $19,972,000. E. Ohman J or Asset Management AB owned about 0.17% of Generac as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock valued at $330,557,000 after acquiring an additional 806,430 shares during the period. State Street Corp increased its position in Generac by 2.1% in the second quarter. State Street Corp now owns 2,189,927 shares of the technology company's stock worth $313,619,000 after purchasing an additional 45,592 shares during the period. Victory Capital Management Inc. raised its holdings in Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company's stock worth $355,530,000 after purchasing an additional 324,809 shares during the last quarter. Boston Partners raised its holdings in Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company's stock worth $326,003,000 after purchasing an additional 128,439 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Generac by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company's stock valued at $202,943,000 after purchasing an additional 6,332 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on GNRC. Jefferies Financial Group reaffirmed a "buy" rating on shares of Generac in a research note on Wednesday, June 3rd. Barclays boosted their price target on shares of Generac from $213.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Friday, March 27th. Zacks Research lowered shares of Generac from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th. Wells Fargo & Company raised their price objective on shares of Generac from $238.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $311.00 target price on shares of Generac in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $278.65.

Insider Buying and Selling

In related news, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company's stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. 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. 2.40% of the stock is currently owned by insiders.

Generac Price Performance

Shares of GNRC opened at $279.09 on Friday. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a 1 year low of $125.80 and a 1 year high of $294.18. The stock has a market cap of $16.43 billion, a P/E ratio of 87.49, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. The stock's 50-day moving average price is $251.44 and its two-hundred day moving average price is $205.86.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 EPS. On average, equities analysts predict 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.

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