Public Employees Retirement System of Ohio Makes New Investment in Generac Holdings Inc. $GNRC

Public Employees Retirement System of Ohio bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 16,498 shares of the technology company’s stock, valued at approximately $4,831,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GNRC. Callan Family Office LLC acquired a new position in Generac during the 2nd quarter valued at approximately $3,033,000. Hsbc Holdings PLC increased its position in Generac by 42.8% in the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock worth $12,711,000 after buying an additional 27,893 shares during the period. Patton Fund Management Inc. bought a new stake in Generac in the first quarter valued at $3,797,000. Needham Investment Management LLC lifted its stake in Generac by 213.6% in the fourth quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock valued at $4,705,000 after buying an additional 23,500 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in shares of Generac during the first quarter valued at $1,267,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Generac

In other news, insider Kyle Andrew Raabe sold 586 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the sale, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares of the company’s stock, valued at approximately $3,393,615.64. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,236 shares of company stock valued at $2,421,423 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GNRC. Cantor Fitzgerald lifted their price objective on shares of Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. DA Davidson set a $333.00 price objective on Generac in a report on Thursday, July 30th. Stifel Nicolaus increased their price target on Generac from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Canaccord Genuity Group lowered their price target on Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Roth Capital set a $214.00 price objective on shares of Generac in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $284.84.

Generac Trading Down 0.2%

Shares of GNRC stock opened at $180.97 on Thursday. The stock has a 50-day simple moving average of $220.18 and a 200 day simple moving average of $230.01. The stock has a market capitalization of $10.68 billion, a P/E ratio of 41.70, a P/E/G ratio of 1.55 and a beta of 1.91. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping 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 firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the business earned $1.65 earnings per share. Generac’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.