Louisiana State Employees Retirement System Takes $586,000 Position in Generac Holdings Inc. $GNRC

Louisiana State Employees Retirement System purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 1st quarter, Holdings Channel.com reports. The fund purchased 3,000 shares of the technology company’s stock, valued at approximately $586,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Generac in the third quarter worth $26,000. MUFG Securities EMEA plc purchased a new stake in shares of Generac in the 2nd quarter worth about $25,000. Quarry LP grew its stake in Generac by 66.2% in the 3rd quarter. Quarry LP now owns 399 shares of the technology company’s stock valued at $67,000 after acquiring an additional 159 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Generac during the 3rd quarter valued at about $67,000. Finally, IFP Advisors Inc increased its holdings in Generac by 33.8% during the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock valued at $59,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GNRC. Bank of America reduced their target price on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Raymond James Financial set a $302.00 price target on Generac in a research report on Friday, May 22nd. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. UBS Group increased their price objective on Generac from $305.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $284.18.

Generac Price Performance

Shares of Generac stock opened at $235.94 on Wednesday. The business’s fifty day moving average price is $266.17 and its 200 day moving average price is $215.81. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. 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 $13.89 billion, a P/E ratio of 73.96, a PEG ratio of 2.41 and a beta of 1.89.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. Generac’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insider Buying and Selling at Generac

In related news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares of the company’s stock, valued at approximately $4,046,848. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,100 shares of company stock worth $1,651,443 in the last 90 days. Company insiders own 2.40% of the company’s stock.

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.