Retirement Systems of Alabama lowered its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 74.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 37,663 shares of the technology company’s stock after selling 107,085 shares during the period. Retirement Systems of Alabama’s holdings in Generac were worth $12,333,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cowa LLC bought a new position in Generac during the fourth quarter worth $25,000. Corbenic Partners LLC bought a new position in Generac during the first quarter worth $29,000. Archer Investment Corp bought a new position in Generac during the fourth quarter worth $39,000. Focused Wealth Management Inc bought a new position in Generac during the fourth quarter worth $43,000. Finally, North Star Investment Management Corp. raised its stake in Generac by 100.0% during the fourth quarter. North Star Investment Management Corp. now owns 200 shares of the technology company’s stock worth $45,000 after buying an additional 100 shares during the last quarter. 90.44% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on GNRC. Stephens lifted their target price on shares of Generac from $260.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, January 15th. Canaccord Genuity raised their price target on shares of Generac from $250.00 to $383.00 and gave the stock a “buy” rating in a report on Friday, February 12th. Oppenheimer raised their price target on shares of Generac from $235.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. UBS Group raised their price target on shares of Generac from $251.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, February 12th. Finally, Roth Capital raised their price target on shares of Generac from $360.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Generac currently has a consensus rating of “Buy” and a consensus target price of $321.00.
Generac stock opened at $321.66 on Friday. Generac Holdings Inc. has a fifty-two week low of $90.30 and a fifty-two week high of $364.00. The stock has a market cap of $20.22 billion, a PE ratio of 69.32, a price-to-earnings-growth ratio of 5.28 and a beta of 0.91. The firm’s 50-day simple moving average is $319.28 and its 200 day simple moving average is $262.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.70 and a current ratio of 2.66.
Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, February 11th. The technology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.16. Generac had a net margin of 12.75% and a return on equity of 34.03%. The business had revenue of $761.08 million for the quarter, compared to analysts’ expectations of $725.77 million. As a group, analysts predict that Generac Holdings Inc. will post 6.32 EPS for the current fiscal year.
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $329.85, for a total value of $1,649,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Russell S. Minick sold 28,098 shares of Generac stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $335.42, for a total transaction of $9,424,631.16. Over the last 90 days, insiders have sold 39,480 shares of company stock worth $13,322,515. 2.90% of the stock is owned by corporate insiders.
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel; and batteries and inverters.
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