Retirement Systems of Alabama Sells 187 Shares of Generac Holdings Inc. (NYSE:GNRC)

Retirement Systems of Alabama decreased its position in Generac Holdings Inc. (NYSE:GNRC) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,371 shares of the technology company’s stock after selling 187 shares during the quarter. Retirement Systems of Alabama’s holdings in Generac were worth $1,768,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Versor Investments LP purchased a new stake in Generac in the 4th quarter worth approximately $452,000. Teacher Retirement System of Texas increased its position in Generac by 91.7% during the 4th quarter. Teacher Retirement System of Texas now owns 9,183 shares of the technology company’s stock valued at $1,187,000 after purchasing an additional 4,393 shares during the period. DAVENPORT & Co LLC increased its position in Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after purchasing an additional 214,322 shares during the period. Capital World Investors bought a new position in Generac in the 4th quarter worth $155,707,000. Finally, BNP Paribas Financial Markets raised its stake in Generac by 177.2% in the fourth quarter. BNP Paribas Financial Markets now owns 132,904 shares of the technology company’s stock worth $17,177,000 after buying an additional 84,958 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Down 1.0 %

GNRC opened at $156.06 on Wednesday. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $169.57. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $146.95 and a 200-day moving average price of $136.09. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 1.93 and a beta of 1.37.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.15. The firm had revenue of $998.20 million for the quarter, compared to analysts’ expectations of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. Equities research analysts forecast that Generac Holdings Inc. will post 6.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GNRC shares. StockNews.com downgraded Generac from a “buy” rating to a “hold” rating in a report on Tuesday. Northland Securities raised their price objective on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report 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. Canaccord Genuity Group lifted their price target on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $175.00 price objective (up previously from $145.00) on shares of Generac in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $154.71.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated 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 SEC, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Generac 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.