Kentucky Retirement Systems Has $666,000 Position in Generac Holdings Inc. (NYSE:GNRC)

Kentucky Retirement Systems cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,191 shares of the technology company’s stock after selling 377 shares during the quarter. Kentucky Retirement Systems’ holdings in Generac were worth $666,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Willis Investment Counsel increased its holdings in shares of Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after acquiring an additional 16,541 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after acquiring an additional 3,244 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of Generac during the 1st quarter worth approximately $1,053,000. Versor Investments LP acquired a new position in shares of Generac during the 3rd quarter worth approximately $1,823,000. Finally, Natixis increased its holdings in shares of Generac by 716.5% during the 1st quarter. Natixis now owns 1,135 shares of the technology company’s stock worth $143,000 after acquiring an additional 996 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the transaction, the chief executive officer now directly owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by insiders.

Generac Price Performance

Shares of GNRC stock opened at $179.94 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The company has a market cap of $10.71 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.23 and a beta of 1.37. The business has a fifty day simple moving average of $164.81 and a 200 day simple moving average of $152.34.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned $1.64 EPS. Generac’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GNRC. Northland Securities boosted their target price on Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stephens reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Generac in a report on Monday, August 5th. Finally, Stifel Nicolaus upped their price objective on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.05.

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.