Generac Holdings Inc. $GNRC Stock Position Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.9% in the fourth quarter, Holdings Channel reports. The firm owned 46,819 shares of the technology company’s stock after selling 1,918 shares during the period. New York State Teachers Retirement System’s holdings in Generac were worth $6,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the 3rd quarter valued at $26,000. Sentry Investment Management LLC raised its holdings in shares of Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. First Horizon Corp bought a new position in shares of Generac in the 3rd quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new position in shares of Generac in the 2nd quarter valued at approximately $25,000. Finally, Quent Capital LLC bought a new position in shares of Generac in the 3rd quarter valued at approximately $41,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of Generac stock opened at $263.45 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $15.49 billion, a price-to-earnings ratio of 82.59, a P/E/G ratio of 2.44 and a beta of 1.93. Generac Holdings Inc. has a 1-year low of $113.50 and a 1-year high of $267.32. The firm’s 50-day moving average price is $212.21 and its two-hundred day moving average price is $182.24.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, equities analysts predict that Generac Holdings Inc. will post 8.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America cut their price objective on Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Wells Fargo & Company boosted their price objective on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Canaccord Genuity Group boosted their price objective on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research report on Thursday, January 22nd. Finally, Robert W. Baird set a $311.00 price objective on Generac in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $270.31.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.