California Public Employees Retirement System reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,403 shares of the technology company’s stock after selling 7,482 shares during the quarter. California Public Employees Retirement System owned 0.14% of Generac worth $13,034,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in Generac by 158.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 152 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of Generac by 85.7% during the 2nd quarter. Zions Bancorporation N.A. now owns 182 shares of the technology company’s stock worth $27,000 after buying an additional 84 shares during the period. Ameritas Advisory Services LLC acquired a new position in Generac in the 1st quarter valued at about $28,000. Castleview Partners LLC bought a new position in Generac in the 1st quarter valued at about $30,000. Finally, Cambridge Trust Co. lifted its position in Generac by 50.0% during the first quarter. Cambridge Trust Co. now owns 300 shares of the technology company’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on GNRC shares. BNP Paribas started coverage on Generac in a research note on Friday, October 20th. They set an “underperform” rating and a $78.00 target price on the stock. Stifel Nicolaus raised shares of Generac from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $135.00 in a research report on Thursday, November 2nd. Truist Financial reaffirmed a “buy” rating and set a $160.00 price target on shares of Generac in a research report on Monday, October 2nd. Citigroup cut their price objective on shares of Generac from $133.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, October 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $175.00 target price on shares of Generac in a report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $139.82.
Insider Activity at Generac
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $120.23, for a total value of $601,150.00. Following the transaction, the chief executive officer now owns 602,690 shares in the company, valued at approximately $72,461,418.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Rajendra Kumar Kanuru sold 250 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $108.24, for a total transaction of $27,060.00. Following the sale, the executive vice president now owns 15,868 shares in the company, valued at approximately $1,717,552.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $120.23, for a total value of $601,150.00. Following the completion of the sale, the chief executive officer now owns 602,690 shares of the company’s stock, valued at $72,461,418.70. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $1,675,768 over the last ninety days. Insiders own 2.80% of the company’s stock.
Generac Trading Down 0.1 %
GNRC opened at $113.95 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.41 and a quick ratio of 0.95. Generac Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $156.95. The company’s 50 day moving average price is $102.42 and its two-hundred day moving average price is $116.81. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 2.07 and a beta of 1.31.
Generac (NYSE:GNRC – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.09. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Generac had a net margin of 4.72% and a return on equity of 13.73%. Generac’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 earnings per share. As a group, research analysts predict that Generac Holdings Inc. will post 5.35 earnings per share for the current year.
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.
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