California State Teachers Retirement System Buys 19,878,133 Shares of Generac Holdings Inc. $GNRC

Key Points

• California State Teachers Retirement System increased its Generac Holdings position by 29,322.7%, acquiring 19.88 million shares and bringing its total to 19.95 million shares, or approximately 33.8% of the company.
• Generac reported quarterly EPS of $2.91, beating estimates of $2.01, while revenue rose 10.3% year over year to $1.17 billion, slightly below expectations.
• Analysts maintain a generally positive outlook, with Generac receiving a consensus “Moderate Buy” rating and an average price target of $284.84, compared with shares opening at $186.45.

California State Teachers Retirement System lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 29,322.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,945,924 shares of the technology company's stock after acquiring an additional 19,878,133 shares during the period. California State Teachers Retirement System owned approximately 33.80% of Generac worth $5,840,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in Generac in the second quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new position in shares of Generac during the second quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Generac in the 3rd quarter valued at $26,000. Avalon Trust Co bought a new stake in shares of Generac in the 1st quarter valued at $32,000. Finally, Essential Partners LLC increased its position in shares of Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company's stock valued at $33,000 after buying an additional 61 shares in the last quarter. Institutional investors own 84.04% of the company's stock.

Generac Stock Performance

Shares of Generac stock opened at $186.45 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 1.62 and a beta of 1.91. The stock's 50-day moving average is $210.46 and its 200-day moving average is $228.58. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.90. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.Generac's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. Equities analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the sale, the chief executive officer directly owned 554,528 shares in the company, valued at $108,071,961.92. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Norman Taffe sold 550 shares of Generac stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,086 shares of company stock valued at $2,347,160 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Zacks Research upgraded Generac from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. TD Cowen reaffirmed a "buy" rating on shares of Generac in a research report on Monday, July 20th. Cantor Fitzgerald lifted their price objective on Generac from $325.00 to $333.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Jefferies Financial Group reiterated a "buy" rating on shares of Generac in a research report on Wednesday, June 3rd. Finally, Stephens restated an "overweight" rating and set a $290.00 target price on shares of Generac in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Generac has a consensus rating of "Moderate Buy" and a consensus target price of $284.84.

Generac Company Profile

Generac Holdings Inc NYSE: GNRC is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac's product lineup addresses a broad range of customer needs.

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