KLP Kapitalforvaltning AS Sells 2,100 Shares of Generac Holdings Inc. (NYSE:GNRC)

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Generac Holdings Inc. by 15.3%, now holding 11,600 shares valued at approximately $1.47 million.
• CEO Aaron Jagdfeld sold 5,000 shares of Generac's stock for about $712,000, decreasing his ownership by 0.88% while still holding over 562,000 shares.
• Generac's recent quarterly earnings showed an EPS of $1.26, exceeding analyst expectations and reflecting a revenue increase of 5.9% year over year.

KLP Kapitalforvaltning AS cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,600 shares of the technology company's stock after selling 2,100 shares during the period. KLP Kapitalforvaltning AS's holdings in Generac were worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNRC. Y Intercept Hong Kong Ltd bought a new stake in Generac during the 1st quarter worth about $1,150,000. PFG Advisors raised its position in Generac by 42.6% during the first quarter. PFG Advisors now owns 3,596 shares of the technology company's stock valued at $455,000 after purchasing an additional 1,074 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Generac by 2.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,167 shares of the technology company's stock valued at $654,000 after purchasing an additional 110 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Generac during the first quarter worth about $243,000. Finally, Formidable Asset Management LLC grew its holdings in shares of Generac by 5.7% during the first quarter. Formidable Asset Management LLC now owns 2,885 shares of the technology company's stock worth $365,000 after purchasing an additional 156 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Stock Up 2.3%

Shares of GNRC traded up $3.49 on Friday, reaching $156.88. The stock had a trading volume of 823,639 shares, compared to its average volume of 812,245. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $195.94. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.72. The company has a 50-day simple moving average of $136.99 and a 200-day simple moving average of $133.93.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.27. Generac had a return on equity of 18.90% and a net margin of 7.68%. The company had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. During the same period in the previous year, the company posted $0.88 earnings per share. The firm's revenue was up 5.9% on a year-over-year basis. Sell-side analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

Analysts Set New Price Targets

GNRC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Generac from $141.00 to $144.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Canaccord Genuity Group dropped their price objective on Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Stephens reaffirmed an "overweight" rating and issued a $175.00 price objective on shares of Generac in a report on Tuesday, May 27th. Wall Street Zen raised shares of Generac from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, Piper Sandler lowered their price objective on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and an average price target of $164.58.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the transaction, the chief executive officer owned 562,966 shares in the company, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by corporate insiders.

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.