Generac Holdings Inc. $GNRC Stock Position Reduced by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,014 shares of the technology company’s stock after selling 3,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Generac were worth $1,775,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GNRC. Caitong International Asset Management Co. Ltd bought a new stake in shares of Generac in the 3rd quarter worth approximately $26,000. Sentry Investment Management LLC lifted its holdings in shares of Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after purchasing an additional 67 shares during the last quarter. First Horizon Corp bought a new stake in shares of Generac in the 3rd quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of Generac in the 2nd quarter worth approximately $25,000. Finally, Quent Capital LLC bought a new stake in shares of Generac in the 3rd quarter worth approximately $41,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GNRC. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Argus lifted their target price on Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Roth Mkm reaffirmed a “neutral” rating and set a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Finally, Canaccord Genuity Group lifted their target price on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus price target of $270.31.

Generac Stock Performance

Shares of NYSE GNRC opened at $264.31 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 82.86, a PEG ratio of 2.59 and a beta of 1.93. The stock’s fifty day simple moving average is $218.65 and its 200 day simple moving average is $186.67. Generac Holdings Inc. has a 52-week low of $118.09 and a 52-week high of $276.80.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.Generac’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Generac Company 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.