Kentucky Retirement Systems Cuts Position in Generac Holdings Inc. (NYSE:GNRC)

Kentucky Retirement Systems decreased its position in Generac Holdings Inc. (NYSE:GNRC) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,568 shares of the technology company’s stock after selling 97 shares during the quarter. Kentucky Retirement Systems’ holdings in Generac were worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. First Washington CORP grew its stake in shares of Generac by 2.0% during the second quarter. First Washington CORP now owns 9,310 shares of the technology company’s stock valued at $1,231,000 after buying an additional 183 shares during the last quarter. Blair William & Co. IL grew its holdings in Generac by 29.2% in the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after acquiring an additional 103,439 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Generac by 32.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,170 shares of the technology company’s stock worth $684,000 after purchasing an additional 1,275 shares during the period. Argent Trust Co bought a new stake in shares of Generac in the 2nd quarter worth approximately $450,000. Finally, Virtu Financial LLC purchased a new stake in Generac in the 2nd quarter worth $1,957,000. 84.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GNRC. Scotiabank lifted their target price on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $175.00 price target (up previously from $145.00) on shares of Generac in a research note on Thursday, August 1st. Robert W. Baird increased their price target on Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Piper Sandler upped their price objective on Generac from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Janney Montgomery Scott downgraded Generac from a “buy” rating to a “neutral” rating and increased their target price for the company from $126.00 to $154.00 in a research report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $154.71.

Generac Stock Performance

Shares of NYSE:GNRC opened at $141.76 on Friday. The firm’s 50 day simple moving average is $149.26 and its 200-day simple moving average is $139.72. The firm has a market cap of $8.59 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $169.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts predict that Generac Holdings Inc. will post 6.52 EPS for the current year.

About Generac

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.