VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 6,314 Generac Holdings Inc. $GNRC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,314 shares of the technology company’s stock, valued at approximately $1,849,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in shares of Generac in the second quarter valued at $25,000. MUFG Securities EMEA plc acquired a new stake in Generac in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Generac in the 3rd quarter valued at about $26,000. Avalon Trust Co purchased a new position in Generac during the 1st quarter valued at about $32,000. Finally, Essential Partners LLC increased its holdings in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares in the company, valued at $108,071,961.92. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 550 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. This trade represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,086 shares of company stock valued at $2,347,160 in the last quarter. 2.40% of the stock is currently owned by company insiders.

Generac Stock Performance

Shares of NYSE GNRC opened at $186.92 on Friday. The company has a 50-day simple moving average of $207.71 and a 200-day simple moving average of $227.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The company has a market cap of $11.03 billion, a PE ratio of 43.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.91. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Analysts Set New Price Targets

GNRC has been the topic of several recent research reports. Robert W. Baird set a $305.00 price target on shares of Generac in a report on Thursday, July 30th. Needham & Company LLC raised their price objective on shares of Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Stifel Nicolaus lifted their price objective on Generac from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Raymond James Financial set a $302.00 target price on Generac in a report on Friday, May 22nd. Finally, Barclays dropped their price target on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $284.84.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation and energy management products. Its portfolio includes residential standby generators, portable generators, commercial and industrial generator systems, and related transfer switches, controls and monitoring technologies.

The company also offers clean energy and electrification solutions, including battery energy storage systems, solar-related products, electric vehicle chargers and load-management technologies.