Kentucky Retirement Systems Reduces Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Kentucky Retirement Systems reduced its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor 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 SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors raised its position in shares of Generac by 2.1% in the 1st quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after purchasing an additional 25,646 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Generac in the second quarter worth $98,282,000. Dimensional Fund Advisors LP lifted its stake in shares of Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock worth $92,941,000 after buying an additional 35,026 shares during the period. Norges Bank purchased a new stake in shares of Generac during the fourth quarter valued at $67,253,000. Finally, Ninety One UK Ltd increased its position in shares of Generac by 0.7% in the 2nd quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after acquiring an additional 3,849 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Performance

GNRC opened at $141.76 on Friday. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 1.83 and a beta of 1.38. The firm’s fifty day simple moving average is $149.26 and its two-hundred day simple moving average is $139.72. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $169.57.

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

Analyst Ratings Changes

GNRC has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on Generac from $129.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and increased their price target for the stock from $126.00 to $154.00 in a report on Thursday, June 13th. Stifel Nicolaus restated a “buy” rating and set a $175.00 price objective (up from $145.00) on shares of Generac in a research note on Thursday, August 1st. Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Scotiabank boosted their target price on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $154.71.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, July 1st. The shares were 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 filing with the SEC, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

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.