Strs Ohio Raises Position in Generac Holdings Inc. $GNRC

Strs Ohio grew its holdings in Generac Holdings Inc. (NYSE:GNRC) by 583.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,096 shares of the technology company’s stock after acquiring an additional 49,595 shares during the period. Strs Ohio’s holdings in Generac were worth $9,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of GNRC. MUFG Securities EMEA plc purchased a new position in Generac in the second quarter valued at $25,000. First Horizon Corp purchased a new stake in Generac during the 3rd quarter worth about $28,000. Creative Capital Management Investments LLC raised its position in Generac by 740.7% in the 2nd quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock valued at $33,000 after purchasing an additional 200 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Generac in the 3rd quarter valued at about $41,000. Finally, Red Tortoise LLC purchased a new position in shares of Generac in the 3rd quarter valued at about $42,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on GNRC shares. Citigroup upgraded shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 target price on the stock in a research note on Thursday, January 8th. Needham & Company LLC assumed coverage on shares of Generac in a report on Monday, January 12th. They set a “buy” rating and a $211.00 price target for the company. Wells Fargo & Company set a $195.00 price objective on shares of Generac in a research report on Friday, December 19th. Zacks Research lowered shares of Generac from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Finally, Roth Mkm set a $184.00 price objective on shares of Generac and gave the stock a “neutral” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $195.29.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $166.43, for a total value of $832,150.00. Following the completion of the sale, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at $90,365,831.38. This represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.70% of the company’s stock.

Generac Trading Down 1.4%

NYSE GNRC opened at $172.96 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.18 and a quick ratio of 1.02. The firm’s fifty day moving average price is $151.48 and its 200 day moving average price is $167.42. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 1.39 and a beta of 1.82. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $203.25.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $2.25 earnings per share. Generac’s revenue was down 5.0% on a year-over-year basis. On average, sell-side analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Generac Profile

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.