New York State Teachers Retirement System Trims Holdings in Generac Holdings Inc. (NYSE:GNRC)

New York State Teachers Retirement System lowered its holdings in Generac Holdings Inc. (NYSE:GNRC) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 51,432 shares of the technology company’s stock after selling 6,421 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Generac worth $8,172,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. William Blair Investment Management LLC purchased a new position in Generac during the 2nd quarter valued at $98,282,000. International Assets Investment Management LLC increased its position in shares of Generac by 25,311.7% during the third quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after buying an additional 266,026 shares during the period. DAVENPORT & Co LLC raised its stake in Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after buying an additional 214,322 shares in the last quarter. Blair William & Co. IL lifted its holdings in Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Generac by 21.4% during the 2nd quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock valued at $55,548,000 after acquiring an additional 74,115 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GNRC. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. The Goldman Sachs Group increased their price objective on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday. Stephens restated an “overweight” rating and set a $200.00 target price on shares of Generac in a report on Monday, August 5th. Canaccord Genuity Group increased their price target 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, Roth Mkm lifted their price target on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.10.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.90% of the company’s stock.

Generac Price Performance

NYSE GNRC opened at $168.91 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 2.03. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.13 and a beta of 1.37. The stock has a 50-day moving average of $157.17 and a 200 day moving average of $148.43. Generac Holdings Inc. has a one year low of $98.27 and a one year high of $176.14.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $1.64 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Generac Holdings Inc. will post 6.49 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.