New York State Teachers Retirement System Sells 765 Shares of Generac Holdings Inc. (NYSE:GNRC)

New York State Teachers Retirement System lessened its position in Generac Holdings Inc. (NYSE:GNRC) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 57,853 shares of the technology company’s stock after selling 765 shares during the period. New York State Teachers Retirement System’s holdings in Generac were worth $7,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GNRC. LaFleur & Godfrey LLC grew its holdings in Generac by 5.7% in the 2nd quarter. LaFleur & Godfrey LLC now owns 43,365 shares of the technology company’s stock valued at $5,734,000 after buying an additional 2,352 shares during the last quarter. Oak Family Advisors LLC increased its position in Generac by 3.1% during the second quarter. Oak Family Advisors LLC now owns 55,458 shares of the technology company’s stock worth $7,333,000 after acquiring an additional 1,644 shares during the period. MFA Wealth Advisors LLC increased its position in Generac by 8.1% during the second quarter. MFA Wealth Advisors LLC now owns 18,811 shares of the technology company’s stock worth $2,487,000 after acquiring an additional 1,406 shares during the period. Oak Harvest Investment Services acquired a new position in Generac during the 2nd quarter valued at $478,000. Finally, Summit Global Investments bought a new stake in Generac in the 2nd quarter valued at $251,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the topic of several analyst reports. Janney Montgomery Scott lowered Generac from a “buy” rating to a “neutral” rating and upped their price objective for the company from $126.00 to $154.00 in a research note on Thursday, June 13th. Robert W. Baird raised their price objective on shares of Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their target price on Generac from $129.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Roth Mkm upped their target price on shares of Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Stephens restated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $154.71.

Generac Stock Performance

Shares of GNRC stock opened at $156.85 on Monday. The company has a fifty day moving average price of $146.17 and a two-hundred day moving average price of $135.67. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $169.57. The stock has a market cap of $9.51 billion, a P/E ratio of 43.21, a P/E/G ratio of 1.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.15. The business had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. Generac’s revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. As a group, equities analysts predict that Generac Holdings Inc. will post 6.3 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.