Generac Holdings Inc. $GNRC Stock Holdings Increased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 45.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,214 shares of the technology company’s stock after buying an additional 2,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Generac were worth $1,907,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. D.A. Davidson & CO. lifted its position in Generac by 143.4% during the third quarter. D.A. Davidson & CO. now owns 12,458 shares of the technology company’s stock worth $2,578,000 after acquiring an additional 7,339 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Generac by 25.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 683 shares of the technology company’s stock worth $141,000 after acquiring an additional 138 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Generac by 847.7% in the third quarter. Asset Management One Co. Ltd. now owns 28,612 shares of the technology company’s stock valued at $5,925,000 after purchasing an additional 25,593 shares during the last quarter. Independence Bank of Kentucky grew its position in shares of Generac by 16.4% in the third quarter. Independence Bank of Kentucky now owns 19,190 shares of the technology company’s stock valued at $3,971,000 after purchasing an additional 2,702 shares during the last quarter. Finally, Abundance Wealth Counselors increased its stake in shares of Generac by 2.6% during the third quarter. Abundance Wealth Counselors now owns 5,571 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen raised Generac to a “strong-buy” rating in a report on Monday, October 5th. Wells Fargo & Company set a $280.00 price target on Generac in a research note on Thursday, September 17th. DA Davidson set a $333.00 price objective on Generac in a report on Thursday, July 30th. Needham & Company LLC upped their price objective on Generac from $283.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, Canaccord Genuity Group increased their price objective on Generac from $275.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $290.41.

Insider Activity at Generac

In related news, insider Kyle Raabe sold 603 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $212.57, for a total transaction of $128,179.71. Following the sale, the insider owned 9,966 shares of the company’s stock, valued at $2,118,472.62. This represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $206.00, for a total value of $1,030,000.00. Following the sale, the chief executive officer directly owned 544,528 shares in the company, valued at $112,172,768. This represents a 0.91% 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. Over the last ninety days, insiders sold 12,892 shares of company stock worth $2,561,730. Company insiders own 2.40% of the company’s stock.

Generac Stock Performance

NYSE GNRC opened at $209.37 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $12.36 billion, a P/E ratio of 41.46, a P/E/G ratio of 1.72 and a beta of 1.86. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The firm has a 50-day moving average price of $199.20 and a two-hundred day moving average price of $217.96.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, October 28th. The technology company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.14. Generac had a net margin of 6.52% and a return on equity of 18.78%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business’s revenue was up 16.2% compared to the same quarter last year. Analysts anticipate that Generac Holdings Inc. will post 9.80 earnings per share for the current year.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.