California Public Employees Retirement System Cuts Stake in Generac Holdings Inc. (NYSE:GNRC)

California Public Employees Retirement System lessened its holdings in Generac Holdings Inc. (NYSE:GNRC) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 96,691 shares of the technology company’s stock after selling 3,460 shares during the quarter. California Public Employees Retirement System’s holdings in Generac were worth $14,992,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GNRC. Nordea Investment Management AB purchased a new position in shares of Generac in the fourth quarter worth about $5,229,000. Global Financial Private Client LLC purchased a new position in Generac in the 4th quarter worth approximately $614,000. Franklin Resources Inc. lifted its position in Generac by 106.1% in the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock valued at $4,998,000 after purchasing an additional 14,811 shares during the last quarter. Barclays PLC boosted its stake in shares of Generac by 41.4% during the third quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock valued at $29,425,000 after purchasing an additional 54,202 shares during the period. Finally, Dakota Wealth Management increased its stake in shares of Generac by 59.1% in the fourth quarter. Dakota Wealth Management now owns 48,998 shares of the technology company’s stock worth $7,597,000 after buying an additional 18,197 shares during the period. 84.04% of the stock is owned by institutional investors.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the sale, the chief executive officer now directly owns 565,825 shares in the company, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial cut their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Robert W. Baird cut their target price on Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Citigroup lowered their price target on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Guggenheim upgraded Generac from a “sell” rating to a “neutral” rating in a research report on Monday, March 17th. Finally, Bank of America initiated coverage on Generac in a report on Monday, March 24th. They set a “buy” rating and a $182.00 target price for the company. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average target price of $174.38.

Generac Stock Performance

Shares of Generac stock opened at $111.97 on Friday. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.44 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. Generac Holdings Inc. has a 1 year low of $105.41 and a 1 year high of $195.94. The firm’s 50-day moving average is $136.90 and its 200 day moving average is $156.90.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Sell-side analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company 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.