Public Sector Pension Investment Board Grows Position in Generac Holdings Inc. (NYSE:GNRC)

Public Sector Pension Investment Board boosted its holdings in Generac Holdings Inc. (NYSE:GNRC) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,277 shares of the technology company’s stock after buying an additional 1,018 shares during the quarter. Public Sector Pension Investment Board’s holdings in Generac were worth $1,359,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GNRC. Capital World Investors purchased a new stake in Generac during the fourth quarter valued at $155,707,000. William Blair Investment Management LLC bought a new stake in shares of Generac during the 2nd quarter valued at about $98,282,000. Wellington Management Group LLP increased its position in shares of Generac by 432.9% during the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after purchasing an additional 318,664 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Generac by 831.1% in the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after purchasing an additional 214,322 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GNRC shares. Stifel Nicolaus reiterated a “buy” rating and set a $175.00 price target (up previously from $145.00) on shares of Generac in a research note on Thursday, August 1st. Scotiabank boosted their price target on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Robert W. Baird raised their price objective on Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Northland Securities boosted their price objective on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Janney Montgomery Scott cut shares of Generac from a “buy” rating to a “neutral” rating and raised their target price for the stock from $126.00 to $154.00 in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $154.71.

Generac Stock Performance

Shares of NYSE:GNRC opened at $158.19 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $169.57. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 1.88 and a beta of 1.38. The firm’s 50-day moving average is $148.56 and its 200 day moving average is $141.47.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm had revenue of $998.20 million for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Research analysts predict that Generac Holdings Inc. will post 6.5 EPS for the current year.

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.