Kentucky Retirement Systems Insurance Trust Fund Has $283,000 Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,781 shares of the technology company’s stock after selling 174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Generac were worth $283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empirical Finance LLC raised its holdings in shares of Generac by 4.1% in the third quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock valued at $268,000 after purchasing an additional 66 shares during the last quarter. Duncker Streett & Co. Inc. grew its position in Generac by 2.4% during the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock valued at $388,000 after buying an additional 68 shares during the period. Johnson Investment Counsel Inc. grew its position in Generac by 0.3% during the second quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock valued at $2,981,000 after buying an additional 75 shares during the period. Nicollet Investment Management Inc. grew its position in Generac by 1.1% during the third quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company’s stock valued at $1,250,000 after buying an additional 82 shares during the period. Finally, EntryPoint Capital LLC grew its position in Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Trading Down 1.1 %

Shares of GNRC opened at $179.94 on Wednesday. The firm’s 50 day simple moving average is $164.81 and its 200 day simple moving average is $152.34. The company has a market capitalization of $10.71 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC) last announced its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $1.64 earnings per share. Sell-side analysts forecast that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,268 shares of company stock valued at $7,584,853. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GNRC shares. Stifel Nicolaus increased their price target on shares of Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler increased their price target on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. 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 research report on Friday, November 1st. Canaccord Genuity Group increased their target price on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $174.05.

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.