California Public Employees Retirement System Cuts Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

California Public Employees Retirement System reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,691 shares of the technology company’s stock after selling 3,460 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Generac worth $14,992,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Public Sector Pension Investment Board lifted its position in shares of Generac by 1.9% during the third quarter. Public Sector Pension Investment Board now owns 10,477 shares of the technology company’s stock valued at $1,665,000 after purchasing an additional 200 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Generac in the 3rd quarter worth approximately $1,360,000. Hilltop Holdings Inc. grew its holdings in shares of Generac by 27.3% in the third quarter. Hilltop Holdings Inc. now owns 4,045 shares of the technology company’s stock valued at $643,000 after acquiring an additional 868 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Generac during the third quarter valued at approximately $450,000. Finally, Quantinno Capital Management LP bought a new stake in Generac during the third quarter worth $354,000. 84.04% of the stock is currently owned by institutional investors.

Generac Price Performance

NYSE:GNRC opened at $111.97 on Friday. Generac Holdings Inc. has a 52-week low of $105.41 and a 52-week high of $195.94. The stock has a fifty day moving average of $136.90 and a 200 day moving average of $156.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 1.44 and a beta of 1.58.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. On average, research analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GNRC shares. Truist Financial reduced their price objective on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company decreased their price objective on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Piper Sandler dropped their target price on shares of Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Citigroup decreased their price target on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America initiated coverage on Generac in a research note on Monday, March 24th. They issued a “buy” rating and a $182.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and a consensus price target of $174.38.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now owns 565,825 shares of the company’s stock, valued at $82,129,498.75. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

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.