Kentucky Retirement Systems Insurance Trust Fund Sells 162 Shares of Generac Holdings Inc. (NYSE:GNRC)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 7.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,027 shares of the technology company’s stock after selling 162 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Generac were worth $256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stevens Capital Management LP purchased a new position in shares of Generac in the 4th quarter valued at about $916,000. Duality Advisers LP acquired a new position in Generac in the 4th quarter valued at about $964,000. Versor Investments LP purchased a new stake in shares of Generac in the 4th quarter valued at approximately $452,000. Ninety One UK Ltd increased its stake in Generac by 13.4% during the 4th quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock worth $61,634,000 after buying an additional 56,169 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Generac by 91.7% during the 4th quarter. Teacher Retirement System of Texas now owns 9,183 shares of the technology company’s stock worth $1,187,000 after acquiring an additional 4,393 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Generac stock traded down $4.23 during midday trading on Monday, hitting $155.20. 273,610 shares of the company’s stock were exchanged, compared to its average volume of 989,434. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The stock has a 50-day moving average price of $144.81 and a two-hundred day moving average price of $131.35. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $161.80. The company has a market cap of $9.41 billion, a P/E ratio of 43.45, a PEG ratio of 2.16 and a beta of 1.37.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. The company had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. Generac’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities research analysts forecast that Generac Holdings Inc. will post 6.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Erik Wilde sold 4,384 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total value of $675,311.36. Following the transaction, the executive vice president now directly owns 17,897 shares of the company’s stock, valued at approximately $2,756,853.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total value of $9,601,659.00. Following the completion of the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Erik Wilde sold 4,384 shares of Generac stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total value of $675,311.36. Following the completion of the transaction, the executive vice president now owns 17,897 shares of the company’s stock, valued at approximately $2,756,853.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,785 shares of company stock worth $11,720,411. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GNRC. Piper Sandler increased their price target on shares of Generac from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Guggenheim lowered shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price objective on the stock. in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on shares of Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Truist Financial boosted their price target on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Scotiabank boosted their price target on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $144.74.

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.