Teachers Retirement System of The State of Kentucky Buys 20,354 Shares of Generac Holdings Inc. (NYSE:GNRC)

Teachers Retirement System of The State of Kentucky grew its stake in Generac Holdings Inc. (NYSE:GNRCGet Rating) by 310.7% during the 1st quarter, HoldingsChannel reports. The firm owned 26,904 shares of the technology company’s stock after acquiring an additional 20,354 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Generac were worth $7,997,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GNRC. Vanguard Group Inc. boosted its holdings in shares of Generac by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock worth $2,012,595,000 after acquiring an additional 130,854 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Generac by 0.4% in the 1st quarter. BlackRock Inc. now owns 5,018,844 shares of the technology company’s stock worth $1,491,903,000 after acquiring an additional 21,217 shares in the last quarter. State Street Corp boosted its holdings in shares of Generac by 0.8% in the 4th quarter. State Street Corp now owns 2,591,402 shares of the technology company’s stock worth $911,966,000 after acquiring an additional 20,575 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Generac by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,175,929 shares of the technology company’s stock worth $412,807,000 after acquiring an additional 22,890 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Generac by 12.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,081,880 shares of the technology company’s stock worth $321,600,000 after acquiring an additional 116,200 shares in the last quarter. 90.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GNRC shares. TheStreet downgraded Generac from a “b-” rating to a “c+” rating in a report on Tuesday, July 12th. Wells Fargo & Company initiated coverage on Generac in a report on Wednesday, June 29th. They set an “overweight” rating and a $285.00 price objective on the stock. Credit Suisse Group reduced their price objective on Generac to $394.00 in a report on Tuesday, August 9th. Piper Sandler reduced their price objective on Generac from $350.00 to $305.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Finally, Truist Financial reduced their price objective on Generac from $425.00 to $365.00 in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $414.86.

Generac Price Performance

GNRC opened at $200.17 on Friday. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 0.53. Generac Holdings Inc. has a 12 month low of $197.94 and a 12 month high of $524.31. The company has a fifty day simple moving average of $239.52 and a 200 day simple moving average of $252.30. The stock has a market cap of $12.78 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.75 and a beta of 1.33.

Generac (NYSE:GNRCGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The technology company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.34. Generac had a net margin of 12.28% and a return on equity of 29.42%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned $2.39 EPS. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. On average, research analysts expect that Generac Holdings Inc. will post 11.9 EPS for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the completion of the transaction, the chief executive officer now owns 610,975 shares in the company, valued at approximately $161,883,936. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

About Generac

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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