Teachers Retirement System of The State of Kentucky Sells 911 Shares of Generac Holdings Inc. (NYSE:GNRC)

Teachers Retirement System of The State of Kentucky cut its position in Generac Holdings Inc. (NYSE:GNRC) by 15.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,057 shares of the technology company’s stock after selling 911 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Generac were worth $803,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GNRC. William Blair Investment Management LLC bought a new position in shares of Generac during the 2nd quarter worth approximately $98,282,000. Dimensional Fund Advisors LP increased its position in shares of Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock worth $92,941,000 after purchasing an additional 35,026 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after purchasing an additional 299,205 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Generac by 29.2% in the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after purchasing an additional 103,439 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in Generac by 1.7% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 422,628 shares of the technology company’s stock worth $55,880,000 after buying an additional 7,045 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,268 shares of company stock valued at $7,584,853. 2.90% of the stock is owned by corporate insiders.

Generac Trading Down 4.4 %

Shares of Generac stock opened at $157.79 on Thursday. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The company has a market cap of $9.39 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 2.09 and a beta of 1.39. The firm has a 50-day simple moving average of $177.22 and a two-hundred day simple moving average of $157.71.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GNRC shares. Robert W. Baird decreased their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Barclays began coverage on shares of Generac in a research report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price objective for the company. Truist Financial boosted their target price on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, TD Cowen boosted their price objective on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average target price of $175.30.

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.