Vestcor Inc Takes Position in Generac Holdings Inc. (NYSE:GNRC)

Vestcor Inc purchased a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,764 shares of the technology company's stock, valued at approximately $477,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Nebula Research & Development LLC purchased a new position in Generac in the fourth quarter valued at about $3,638,000. Pinebridge Investments L.P. boosted its holdings in Generac by 28.1% during the fourth quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock valued at $10,697,000 after acquiring an additional 15,147 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Generac by 19.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock valued at $929,000 after acquiring an additional 1,195 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Generac during the first quarter valued at about $245,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Generac by 15.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock valued at $3,232,000 after acquiring an additional 3,345 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GNRC shares. Barclays set a $200.00 price objective on shares of Generac and gave the stock an "equal weight" rating in a report on Wednesday. Robert W. Baird reduced their price objective on shares of Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Piper Sandler lowered their target price on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. TD Cowen lifted their price target on Generac from $155.00 to $198.00 and gave the company a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on Generac from $141.00 to $144.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Generac currently has an average rating of "Moderate Buy" and an average price target of $174.28.

Generac Stock Performance

GNRC stock opened at $193.57 on Monday. The business's 50-day moving average price is $142.00 and its two-hundred day moving average price is $134.31. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The firm has a market cap of $11.44 billion, a PE ratio of 32.15, a P/E/G ratio of 1.56 and a beta of 1.68. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $197.18.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Generac had a return on equity of 19.14% and a net margin of 7.91%. The company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. As a group, research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares in the company, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company's stock.

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.

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