6,314 Shares in Generac Holdings Inc. $GNRC Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems purchased 6,314 Generac shares worth approximately $1.85 million during the second quarter. Institutional investors and hedge funds collectively own 84.04% of the company.
• Generac reported quarterly EPS of $2.91, beating the $2.01 consensus estimate, while revenue increased 10.3% year over year to $1.17 billion. Analysts expect full-year EPS of approximately $9.78.
• Insiders sold 12,086 shares worth $2.35 million over the past three months. Despite the sales, analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.84, compared with the reported share price of $186.92.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,314 shares of the technology company's stock, valued at approximately $1,849,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. NewEdge Advisors LLC raised its position in shares of Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company's stock worth $309,000 after acquiring an additional 142 shares in the last quarter. Woodline Partners LP increased its stake in Generac by 40.9% in the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company's stock valued at $638,000 after purchasing an additional 1,463 shares during the last quarter. First Trust Advisors LP increased its stake in Generac by 27.6% in the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company's stock valued at $14,507,000 after purchasing an additional 21,908 shares during the last quarter. Cerity Partners LLC raised its holdings in Generac by 1.6% during the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company's stock worth $7,239,000 after purchasing an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Generac by 8.6% during the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock worth $14,929,000 after purchasing an additional 8,213 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Generac news, insider Norman P. Taffe sold 400 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $188.70, for a total transaction of $75,480.00. Following the completion of the sale, the insider directly owned 11,276 shares of the company's stock, valued at $2,127,781.20. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 586 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the sale, the insider directly owned 10,746 shares of the company's stock, valued at $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 12,086 shares of company stock valued at $2,347,160. Insiders own 2.40% of the company's stock.

Generac Stock Performance

Shares of GNRC opened at $186.92 on Friday. The company's 50 day simple moving average is $207.71 and its 200-day simple moving average is $227.95. The firm has a market cap of $11.03 billion, a PE ratio of 43.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.91. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. Generac's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current year.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several research analyst reports. Citigroup upped their target price on shares of Generac from $263.00 to $300.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of Generac from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Robert W. Baird set a $305.00 price target on shares of Generac in a research report on Thursday, July 30th. Barclays dropped their price objective on Generac from $285.00 to $278.00 and set an "equal weight" rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research upgraded Generac from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $284.84.

Generac Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation and energy management products. Its portfolio includes residential standby generators, portable generators, commercial and industrial generator systems, and related transfer switches, controls and monitoring technologies.

The company also offers clean energy and electrification solutions, including battery energy storage systems, solar-related products, electric vehicle chargers and load-management technologies.

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