Generac Holdings Inc. (NYSE:GNRC) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in Generac Holdings Inc. (NYSE:GNRC) by 0.8% during the third quarter, Holdings Channel.com reports. The fund owned 13,476 shares of the technology company’s stock after purchasing an additional 105 shares during the quarter. Retirement Systems of Alabama’s holdings in Generac were worth $2,141,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of Generac by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock valued at $4,998,000 after purchasing an additional 14,811 shares in the last quarter. Synovus Financial Corp acquired a new position in Generac during the third quarter valued at approximately $300,000. Wilmington Savings Fund Society FSB purchased a new stake in Generac during the third quarter worth approximately $51,000. Morse Asset Management Inc increased its position in shares of Generac by 2.4% in the third quarter. Morse Asset Management Inc now owns 6,084 shares of the technology company’s stock worth $967,000 after acquiring an additional 145 shares in the last quarter. Finally, Diamant Asset Management Inc. raised its stake in shares of Generac by 11.7% in the 3rd quarter. Diamant Asset Management Inc. now owns 3,810 shares of the technology company’s stock valued at $605,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

GNRC stock opened at $156.26 on Friday. The stock’s 50 day simple moving average is $176.38 and its 200 day simple moving average is $157.80. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The firm has a market cap of $9.30 billion, a P/E ratio of 32.42, a P/E/G ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted $1.64 EPS. The business’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Generac Holdings Inc. will post 6.84 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen upped their price target on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Roth Mkm increased their target price on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Barclays began coverage on shares of Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price objective on the stock. Finally, Piper Sandler upped their target price on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.30.

Insider Buying and Selling at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock valued at $7,584,853 in the last ninety days. Company insiders own 2.90% of the company’s stock.

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.