KLP Kapitalforvaltning AS Purchases 800 Shares of Generac Holdings Inc. $GNRC

KLP Kapitalforvaltning AS raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 6.9% in the second quarter, HoldingsChannel reports. The firm owned 12,400 shares of the technology company’s stock after buying an additional 800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Generac were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. True Vision MN LLC grew its stake in shares of Generac by 3.5% during the 2nd quarter. True Vision MN LLC now owns 3,222 shares of the technology company’s stock valued at $461,000 after purchasing an additional 110 shares during the period. Laurus Global Equity Management Inc. grew its stake in shares of Generac by 73.1% during the 2nd quarter. Laurus Global Equity Management Inc. now owns 36,950 shares of the technology company’s stock valued at $5,292,000 after purchasing an additional 15,600 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Generac during the 2nd quarter valued at about $217,000. Grimes & Company Inc. grew its stake in shares of Generac by 1.5% during the 2nd quarter. Grimes & Company Inc. now owns 50,219 shares of the technology company’s stock valued at $7,192,000 after purchasing an additional 751 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of Generac by 1.1% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,018 shares of the technology company’s stock valued at $2,151,000 after purchasing an additional 165 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total transaction of $837,100.00. Following the sale, the chief executive officer directly owned 547,966 shares of the company’s stock, valued at $91,740,467.72. This represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Roth Capital boosted their price target on Generac from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Citigroup downgraded Generac from a “neutral” rating to a “negative” rating in a research note on Thursday. Canaccord Genuity Group cut their price objective on Generac from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. UBS Group reiterated a “buy” rating and set a $220.00 price objective (up from $200.00) on shares of Generac in a research note on Thursday, July 31st. Finally, Barclays cut their price objective on Generac from $200.00 to $188.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.11.

Generac Trading Down 1.0%

GNRC stock opened at $170.23 on Monday. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $203.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.35 and a beta of 1.64. The business has a 50 day simple moving average of $183.16 and a two-hundred day simple moving average of $148.92.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Generac has set its FY 2025 guidance at EPS. Research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company 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.