Louisiana State Employees Retirement System Purchases New Shares in Generac Holdings Inc. $GNRC

Louisiana State Employees Retirement System acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,000 shares of the technology company’s stock, valued at approximately $586,000.

A number of other hedge funds have also bought and sold shares of the company. MUFG Securities EMEA plc bought a new stake in shares of Generac in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Generac during the 3rd quarter valued at about $26,000. IFP Advisors Inc grew its holdings in Generac by 33.8% during the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock valued at $59,000 after purchasing an additional 110 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Generac in the 4th quarter worth about $61,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Generac in the third quarter worth about $67,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

GNRC has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Stephens reissued an “overweight” rating and set a $290.00 price target on shares of Generac in a research note on Thursday, May 21st. Canaccord Genuity Group boosted their price objective on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average target price of $284.18.

Generac Trading Down 8.5%

GNRC opened at $235.94 on Wednesday. The company has a market capitalization of $13.89 billion, a P/E ratio of 73.96, a PEG ratio of 2.41 and a beta of 1.89. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The stock’s fifty day moving average is $266.17 and its two-hundred day moving average is $215.81.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share. Analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insider Buying and Selling

In other Generac news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares in the company, valued at $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,100 shares of company stock worth $1,651,443 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Generac Profile

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.