Nordea Investment Management AB Acquires New Holdings in Generac Holdings Inc. (NYSE:GNRC)

Nordea Investment Management AB acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 33,705 shares of the technology company’s stock, valued at approximately $5,229,000.

A number of other institutional investors have also recently bought and sold shares of the company. Raymond James Trust N.A. boosted its holdings in shares of Generac by 52.8% in the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock valued at $541,000 after buying an additional 1,177 shares during the period. Willis Investment Counsel boosted its holdings in shares of Generac by 18.7% in the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after buying an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Generac by 85.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after purchasing an additional 3,244 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Generac by 5.0% during the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock worth $11,324,000 after purchasing an additional 3,426 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Generac by 54.1% during the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 4,209 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Performance

NYSE GNRC opened at $157.44 on Friday. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The stock has a market cap of $9.37 billion, a PE ratio of 32.66, a P/E/G ratio of 2.04 and a beta of 1.42. The firm has a 50-day moving average of $173.34 and a 200-day moving average of $159.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $1.64 earnings per share. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts recently commented on GNRC shares. Citigroup reduced their target price on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group increased their target price on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen increased their target price on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus increased their target price on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.80.

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.