State Board of Administration of Florida Retirement System Lowers Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

State Board of Administration of Florida Retirement System lowered its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 54,307 shares of the technology company’s stock after selling 4,177 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Generac were worth $5,463,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its position in shares of Generac by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 405,767 shares of the technology company’s stock valued at $31,788,000 after acquiring an additional 102,374 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Generac by 185.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 359,703 shares of the technology company’s stock valued at $36,183,000 after acquiring an additional 233,828 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in shares of Generac in the third quarter valued at approximately $27,775,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Generac by 270.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 246,616 shares of the technology company’s stock valued at $24,807,000 after acquiring an additional 180,122 shares in the last quarter. Finally, Atwood & Palmer Inc. lifted its position in shares of Generac by 0.5% in the third quarter. Atwood & Palmer Inc. now owns 203,345 shares of the technology company’s stock valued at $15,930,000 after acquiring an additional 1,075 shares in the last quarter. Institutional investors own 96.53% of the company’s stock.

Shares of NYSE:GNRC traded down $3.12 during midday trading on Friday, hitting $112.63. The company had a trading volume of 35,117 shares, compared to its average volume of 1,172,579. Generac Holdings Inc. has a twelve month low of $49.41 and a twelve month high of $117.44. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.39 and a quick ratio of 1.30. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 3.21 and a beta of 1.16. The business’s 50-day simple moving average is $103.51 and its 200-day simple moving average is $90.14.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, February 13th. The technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.15. The company had revenue of $590.93 million during the quarter, compared to analysts’ expectations of $588.75 million. Generac had a return on equity of 36.32% and a net margin of 11.85%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 earnings per share. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 4.91 EPS for the current year.

Several equities analysts have recently weighed in on GNRC shares. Bank of America downgraded Generac from a “buy” rating to a “neutral” rating and set a $108.00 target price on the stock. in a research report on Friday, November 1st. Zacks Investment Research raised Generac from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a report on Wednesday, December 18th. Oppenheimer raised Generac from a “market perform” rating to an “outperform” rating and set a $125.00 price target for the company in a report on Thursday, January 23rd. Canaccord Genuity set a $95.00 price target on Generac and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Northcoast Research increased their price target on Generac from $93.00 to $118.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $107.50.

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $104.03, for a total transaction of $520,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 15,000 shares of company stock valued at $1,510,500. 2.70% of the stock is owned by insiders.

Generac Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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