Kentucky Retirement Systems Has $588,000 Holdings in Generac Holdings Inc. (NYSE:GNRC)

Kentucky Retirement Systems cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,665 shares of the technology company’s stock after selling 250 shares during the quarter. Kentucky Retirement Systems’ holdings in Generac were worth $588,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Capital World Investors raised its stake in shares of Generac by 2.1% in the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after purchasing an additional 25,646 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Generac by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 665,629 shares of the technology company’s stock worth $86,026,000 after acquiring an additional 15,490 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Generac by 23.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 610,100 shares of the technology company’s stock worth $78,854,000 after acquiring an additional 115,728 shares in the last quarter. Norges Bank acquired a new position in Generac during the fourth quarter worth $67,253,000. Finally, Ninety One UK Ltd raised its stake in Generac by 13.4% during the fourth quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock worth $61,634,000 after acquiring an additional 56,169 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Down 2.7 %

Shares of NYSE GNRC traded down $4.23 during mid-day trading on Monday, reaching $155.20. 273,610 shares of the company’s stock were exchanged, compared to its average volume of 989,434. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 2.16 and a beta of 1.37. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $144.81 and a 200 day simple moving average of $131.35. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $161.80.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. The firm had revenue of $889.27 million during the quarter, compared to the consensus estimate of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, equities analysts expect that Generac Holdings Inc. will post 6.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Scotiabank increased their price objective on Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday. Guggenheim cut Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price on the stock. in a report on Thursday, May 30th. Canaccord Genuity Group increased their target price on Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Truist Financial increased their target price on Generac from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $144.74.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nam Tran Nguyen sold 546 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the transaction, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The disclosure for this sale can be found here. Insiders have sold 80,785 shares of company stock valued at $11,720,411 in the last 90 days. 2.80% of the stock is currently owned by insiders.

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.