Maryland State Retirement & Pension System reduced its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,641 shares of the technology company’s stock after selling 285 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Generac were worth $692,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OLD Mission Capital LLC bought a new position in shares of Generac during the 4th quarter valued at approximately $26,000. Parkside Financial Bank & Trust raised its stake in shares of Generac by 158.3% in the first quarter. Parkside Financial Bank & Trust now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 152 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Generac in the 1st quarter worth about $28,000. Castleview Partners LLC purchased a new position in shares of Generac during the 1st quarter worth about $30,000. Finally, Cambridge Trust Co. grew its holdings in Generac by 50.0% during the 1st quarter. Cambridge Trust Co. now owns 300 shares of the technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. 87.59% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Generac news, EVP Rajendra Kumar Kanuru sold 250 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $149.15, for a total value of $37,287.50. Following the completion of the sale, the executive vice president now directly owns 16,618 shares in the company, valued at $2,478,574.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Rajendra Kumar Kanuru sold 250 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $149.15, for a total transaction of $37,287.50. Following the sale, the executive vice president now owns 16,618 shares in the company, valued at $2,478,574.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $149.15, for a total transaction of $745,750.00. Following the completion of the transaction, the chief executive officer now directly owns 612,690 shares of the company’s stock, valued at $91,382,713.50. The disclosure for this sale can be found here. Insiders sold a total of 10,500 shares of company stock worth $1,414,245 in the last 90 days. 2.80% of the stock is owned by corporate insiders.
Generac Stock Up 0.6 %
Generac (NYSE:GNRC – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.08). The company had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $979.51 million. Generac had a net margin of 4.64% and a return on equity of 14.23%. Generac’s revenue for the quarter was down 22.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.99 EPS. As a group, analysts expect that Generac Holdings Inc. will post 5.41 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Generac from $169.00 to $189.00 in a research note on Wednesday, July 19th. CL King started coverage on Generac in a research note on Monday, July 24th. They set a “buy” rating and a $178.00 price target for the company. Scotiabank cut their price objective on Generac from $165.00 to $135.00 and set a “sector perform” rating on the stock in a research report on Friday. Piper Sandler reduced their target price on Generac from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 15th. Finally, Argus raised shares of Generac from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $141.74.
Read Our Latest Research Report on Generac
About Generac
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.
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