Retirement Systems of Alabama Lowers Stake in Generac Holdings Inc. (NYSE:GNRC)

Retirement Systems of Alabama cut its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,538 shares of the technology company’s stock after selling 536 shares during the quarter. Retirement Systems of Alabama’s holdings in Generac were worth $1,750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stevens Capital Management LP purchased a new stake in Generac in the fourth quarter valued at approximately $916,000. Duality Advisers LP purchased a new stake in Generac in the fourth quarter valued at approximately $964,000. Ninety One UK Ltd grew its holdings in Generac by 13.4% in the fourth quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock valued at $61,634,000 after purchasing an additional 56,169 shares during the period. State of Alaska Department of Revenue grew its holdings in Generac by 273.7% in the fourth quarter. State of Alaska Department of Revenue now owns 27,636 shares of the technology company’s stock valued at $3,571,000 after purchasing an additional 20,240 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Generac by 13.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 83,646 shares of the technology company’s stock valued at $10,810,000 after purchasing an additional 9,849 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Trading Up 0.5 %

GNRC opened at $137.16 on Thursday. The stock has a market capitalization of $8.29 billion, a PE ratio of 37.79, a P/E/G ratio of 1.82 and a beta of 1.41. The firm’s fifty day moving average price is $126.02 and its 200 day moving average price is $119.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $156.95.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.16. The firm had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, research analysts expect that Generac Holdings Inc. will post 6.1 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total transaction of $699,750.00. Following the completion of the sale, the chief executive officer now owns 587,177 shares in the company, valued at $82,175,421.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GNRC shares. Canaccord Genuity Group boosted their target price on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, April 5th. Roth Mkm lifted their price target on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. Guggenheim cut shares of Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. Robert W. Baird lifted their price target on shares of Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, Citigroup lifted their price target on shares of Generac from $124.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average price target of $142.40.

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.