Retirement Systems of Alabama Raises Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Retirement Systems of Alabama grew its position in Generac Holdings Inc. (NYSE:GNRC) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,476 shares of the technology company’s stock after acquiring 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 reporting period.

A number of other hedge funds have also modified their holdings of the business. Empirical Finance LLC raised its stake in Generac by 4.1% during the 3rd quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock valued at $268,000 after acquiring an additional 66 shares during the last quarter. Duncker Streett & Co. Inc. lifted its holdings in shares of Generac by 2.4% during the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock worth $388,000 after purchasing an additional 68 shares during the period. Johnson Investment Counsel Inc. grew its position in Generac by 0.3% in the 2nd 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 last quarter. Nicollet Investment Management Inc. increased its stake in Generac by 1.1% in the 3rd 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, Mather Group LLC. raised its position in Generac by 6.5% during the 3rd quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock worth $243,000 after buying an additional 93 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Performance

Generac stock opened at $156.26 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The stock has a fifty day moving average of $176.38 and a two-hundred day moving average of $157.80. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The firm 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%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. On average, analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current fiscal year.

Insider Transactions at Generac

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock worth $7,584,853 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GNRC shares. TD Cowen boosted their price target on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Roth Mkm increased their target price on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler lifted their price target on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group raised their target price on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. One equities 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

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.