State Board of Administration of Florida Retirement System Sells 270 Shares of Generac Holdings Inc. (NYSE:GNRC)

Posted by on May 10th, 2023

State Board of Administration of Florida Retirement System decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,057 shares of the technology company’s stock after selling 270 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.12% of Generac worth $7,857,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GNRC. MinichMacGregor Wealth Management LLC bought a new stake in Generac during the 4th quarter valued at approximately $27,000. Ameliora Wealth Management Ltd. acquired a new position in Generac in the 3rd quarter valued at approximately $29,000. Exos TFP Holdings LLC acquired a new position in Generac in the 3rd quarter valued at approximately $30,000. Glassman Wealth Services raised its holdings in Generac by 568.2% in the 4th quarter. Glassman Wealth Services now owns 294 shares of the technology company’s stock valued at $30,000 after acquiring an additional 250 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Generac by 1,066.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 140 shares of the technology company’s stock valued at $42,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $109.48, for a total value of $547,400.00. Following the transaction, the chief executive officer now directly owns 627,690 shares in the company, valued at approximately $68,719,501.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 55,207 shares of company stock worth $6,454,560. Insiders own 2.80% of the company’s stock.

Generac Stock Up 1.2 %

Shares of GNRC opened at $111.77 on Wednesday. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.82 and a current ratio of 2.40. The business’s fifty day moving average price is $108.91 and its two-hundred day moving average price is $108.59. Generac Holdings Inc. has a 52 week low of $86.29 and a 52 week high of $299.85.

Generac (NYSE:GNRC – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. The firm had revenue of $887.90 million for the quarter, compared to analyst estimates of $850.07 million. Generac had a return on equity of 19.63% and a net margin of 6.91%. The business’s quarterly revenue was down 21.8% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. On average, analysts predict that Generac Holdings Inc. will post 6 earnings per share for the current year.

Analyst Ratings Changes

GNRC has been the subject of several recent research reports. Truist Financial cut their price target on Generac from $145.00 to $120.00 in a report on Monday, May 1st. Oppenheimer upped their price target on Generac from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, March 3rd. Stifel Nicolaus upped their price target on Generac from $98.00 to $130.00 in a report on Thursday, February 16th. Scotiabank assumed coverage on Generac in a report on Thursday, March 2nd. They issued a “sector perform” rating and a $165.00 target price for the company. Finally, Stephens increased their target price on Generac from $125.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.17.

Generac Company Profile

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Generac Holdings, Inc engages in the business of designing and manufacturing energy technology solutions. It operates under the Domestic and International segments. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the United States and Canada. The International segment focuses on Generac business’ Latin American export operations.

See Also

Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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