Arizona State Retirement System Buys 433 Shares of Generac Holdings Inc. (NYSE:GNRC)

Arizona State Retirement System increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,400 shares of the technology company’s stock after acquiring an additional 433 shares during the quarter. Arizona State Retirement System’s holdings in Generac were worth $2,249,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GNRC. Vanguard Group Inc. grew its holdings in Generac by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock valued at $2,012,595,000 after buying an additional 130,854 shares in the last quarter. Ariel Investments LLC boosted its position in shares of Generac by 14.9% in the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock valued at $219,047,000 after acquiring an additional 261,050 shares during the period. Invesco Ltd. grew its stake in shares of Generac by 9.9% in the third quarter. Invesco Ltd. now owns 1,633,226 shares of the technology company’s stock valued at $177,956,000 after acquiring an additional 147,523 shares in the last quarter. Geode Capital Management LLC increased its position in Generac by 2.2% during the first quarter. Geode Capital Management LLC now owns 1,310,063 shares of the technology company’s stock worth $141,176,000 after acquiring an additional 28,211 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Generac by 61.8% in the 1st quarter. Macquarie Group Ltd. now owns 1,244,286 shares of the technology company’s stock worth $134,395,000 after purchasing an additional 475,104 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Guggenheim downgraded Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. OTR Global raised Generac from a “mixed” rating to a “positive” rating in a report on Tuesday, April 2nd. Canaccord Genuity Group boosted their price target on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Canaccord Genuity Group increased their price objective on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Citigroup raised their target price on shares of Generac from $124.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average target price of $140.80.

Generac Stock Performance

Shares of GNRC stock opened at $136.08 on Friday. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 1.79 and a beta of 1.45. The company has a current ratio of 2.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $120.00 and its 200-day moving average price is $114.86. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $156.95.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 14th. The technology company reported $2.07 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.02). Generac had a return on equity of 14.15% and a net margin of 5.33%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts forecast that Generac Holdings Inc. will post 6.31 EPS for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $126.94, for a total value of $634,700.00. Following the sale, the chief executive officer now directly owns 592,177 shares in the company, valued at $75,170,948.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is currently owned by company insiders.

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.