State of Alaska Department of Revenue Boosts Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

State of Alaska Department of Revenue raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 273.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,636 shares of the technology company's stock after purchasing an additional 20,240 shares during the period. State of Alaska Department of Revenue's holdings in Generac were worth $3,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GNRC. Norges Bank purchased a new stake in Generac during the 4th quarter worth approximately $59,121,000. Candlestick Capital Management LP purchased a new position in shares of Generac during the 2nd quarter valued at about $79,109,000. Macquarie Group Ltd. raised its stake in shares of Generac by 61.8% during the 1st quarter. Macquarie Group Ltd. now owns 1,244,286 shares of the technology company's stock valued at $134,395,000 after buying an additional 475,104 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Generac during the 4th quarter valued at about $30,537,000. Finally, Mackenzie Financial Corp grew its position in shares of Generac by 13,944.2% during the 3rd quarter. Mackenzie Financial Corp now owns 297,456 shares of the technology company's stock valued at $30,683,000 after acquiring an additional 295,338 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Generac Stock Performance

NYSE:GNRC traded up $0.04 during mid-day trading on Wednesday, reaching $128.19. The stock had a trading volume of 850,333 shares, compared to its average volume of 995,386. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 2.27. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 2.02 and a beta of 1.45. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $156.95. The business has a 50 day simple moving average of $117.22 and a 200 day simple moving average of $113.68.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $2.07 EPS for the quarter, missing analysts' consensus estimates of $2.09 by ($0.02). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.09 billion. Generac had a net margin of 5.33% and a return on equity of 14.15%. Generac's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. On average, analysts expect that Generac Holdings Inc. will post 6.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the sale, the chief executive officer now directly owns 592,177 shares in the company, valued at approximately $75,170,948.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

GNRC has been the topic of a number of analyst reports. OTR Global upgraded Generac from a "mixed" rating to a "positive" rating in a research report on Tuesday. UBS Group cut their price objective on Generac from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, February 15th. Citigroup upped their price target on Generac from $124.00 to $128.00 and gave the company a "neutral" rating in a research report on Monday, February 12th. TD Cowen dropped their price target on Generac from $165.00 to $144.00 and set an "outperform" rating for the company in a research report on Thursday, February 15th. Finally, Guggenheim cut Generac from a "buy" rating to a "neutral" rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Generac currently has an average rating of "Moderate Buy" and a consensus target price of $139.79.

Generac 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.