Treasurer of the State of North Carolina Raises Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Treasurer of the State of North Carolina grew its stake in shares of Generac Holdings Inc. (NYSE:GNRCFree Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,973 shares of the technology company’s stock after acquiring an additional 260 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Generac were worth $3,486,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Peregrine Asset Advisers Inc. boosted its position in Generac by 1.6% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 5,600 shares of the technology company’s stock worth $724,000 after purchasing an additional 90 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Generac by 2.9% in the third quarter. Lido Advisors LLC now owns 4,143 shares of the technology company’s stock worth $451,000 after buying an additional 115 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in Generac by 89.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock valued at $40,000 after buying an additional 147 shares during the period. KCM Investment Advisors LLC grew its position in Generac by 4.5% during the third quarter. KCM Investment Advisors LLC now owns 4,285 shares of the technology company’s stock valued at $467,000 after buying an additional 185 shares during the period. Finally, Beaton Management Co. Inc. increased its holdings in Generac by 6.0% during the fourth quarter. Beaton Management Co. Inc. now owns 3,550 shares of the technology company’s stock valued at $459,000 after buying an additional 200 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Stock Down 1.4 %

Shares of GNRC opened at $139.43 on Wednesday. The business’s 50 day simple moving average is $137.84 and its 200-day simple moving average is $125.66. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $156.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 1.94 and a beta of 1.44.

Generac (NYSE:GNRCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The company had revenue of $889.27 million for the quarter, compared to the consensus estimate of $886.60 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Generac’s revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Generac Holdings Inc. will post 6.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GNRC shares. Truist Financial boosted their price objective on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Oppenheimer lowered Generac from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. Robert W. Baird raised their price objective on Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $149.00 price objective on shares of Generac in a research note on Thursday, May 23rd. Finally, Canaccord Genuity Group raised their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $141.05.

Read Our Latest Stock Analysis on GNRC

Insiders Place Their Bets

In other news, Director Nam Tran Nguyen sold 546 shares of Generac stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the completion of the transaction, the director now owns 3,512 shares in the company, valued at approximately $493,611.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the sale, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the sale, the director now owns 3,512 shares of the company’s stock, valued at approximately $493,611.60. The disclosure for this sale can be found here. Insiders have sold 80,785 shares of company stock valued at $11,688,161 over the last ninety days. 2.80% of the stock is owned by insiders.

About Generac

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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