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

Public Employees Retirement System of Ohio bought a new position in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,498 shares of the technology company’s stock, valued at approximately $4,831,000.

Other institutional investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Generac in the second quarter worth $25,000. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the 3rd quarter worth about $26,000. Avalon Trust Co acquired a new position in Generac in the 1st quarter valued at approximately $32,000. Finally, Essential Partners LLC lifted its position in shares of Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares during the period. Institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In other news, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value 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. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction that occurred 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 transaction, the insider owned 10,746 shares in the company, valued at approximately $2,292,659.10. The trade was a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 12,236 shares of company stock valued at $2,421,423. Company insiders own 2.40% of the company’s stock.

Generac Price Performance

Shares of GNRC opened at $180.97 on Thursday. The company’s fifty day simple moving average is $220.18 and its 200 day simple moving average is $230.01. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 1.55 and a beta of 1.91. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GNRC. Raymond James Financial set a $302.00 target price on Generac in a report on Friday, May 22nd. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. TD Cowen reiterated a “buy” rating on shares of Generac in a research report on Monday, July 20th. Roth Capital set a $214.00 price target on shares of Generac in a research report on Thursday, July 30th. Finally, Canaccord Genuity Group reduced their target price on Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.84.

Generac Company 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.