Generac Holdings Inc. (NYSE:GNRC) Stake Cut by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,686 shares of the technology company's stock after selling 5,296 shares during the period. New York State Teachers Retirement System owned 0.09% of Generac worth $6,419,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GNRC. Jones Financial Companies Lllp increased its position in Generac by 84.0% in the fourth quarter. Jones Financial Companies Lllp now owns 4,840 shares of the technology company's stock worth $750,000 after buying an additional 2,210 shares during the period. Steward Partners Investment Advisory LLC increased its position in Generac by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,206 shares of the technology company's stock worth $1,582,000 after buying an additional 298 shares during the period. Charles Schwab Investment Management Inc. increased its position in Generac by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,986 shares of the technology company's stock worth $86,516,000 after buying an additional 2,015 shares during the period. Atria Investments Inc grew its stake in shares of Generac by 19.1% in the fourth quarter. Atria Investments Inc now owns 2,828 shares of the technology company's stock worth $438,000 after purchasing an additional 453 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Generac in the fourth quarter worth $4,568,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GNRC has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on Generac from $200.00 to $195.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Robert W. Baird decreased their price target on Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Guggenheim raised Generac from a "sell" rating to a "neutral" rating in a research note on Monday, March 17th. Piper Sandler decreased their price target on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company decreased their price target on Generac from $165.00 to $128.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Generac presently has an average rating of "Moderate Buy" and a consensus price target of $169.17.

Generac Trading Up 1.2%

Shares of NYSE:GNRC traded up $1.75 during midday trading on Friday, reaching $152.37. The company had a trading volume of 716,859 shares, compared to its average volume of 865,103. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $195.94. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.37 and a beta of 1.72. The company has a fifty day simple moving average of $127.72 and a two-hundred day simple moving average of $134.53.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.90% and a net margin of 7.68%. The business had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. During the same quarter last year, the company posted $0.88 EPS. Generac's revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the sale, the chief executive officer directly owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.

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.