Generac Holdings Inc. $GNRC Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Generac Holdings Inc. (NYSE:GNRC) by 45.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,214 shares of the technology company’s stock after buying an additional 2,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Generac were worth $1,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Callan Family Office LLC bought a new stake in Generac during the second quarter worth $3,033,000. Tidal Investments LLC boosted its holdings in shares of Generac by 94.3% in the 2nd quarter. Tidal Investments LLC now owns 55,302 shares of the technology company’s stock valued at $16,193,000 after purchasing an additional 26,836 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Generac in the 1st quarter valued at $1,267,000. Procyon Advisors LLC boosted its holdings in shares of Generac by 18.6% in the 1st quarter. Procyon Advisors LLC now owns 32,883 shares of the technology company’s stock valued at $6,423,000 after purchasing an additional 5,147 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Generac in the 1st quarter valued at $2,535,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on GNRC shares. Stephens restated an “overweight” rating and set a $335.00 price objective on shares of Generac in a research report on Thursday, September 17th. Wall Street Zen upgraded Generac from a “buy” rating to a “strong-buy” rating in a research report on Monday. Citigroup lifted their target price on Generac from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Piper Sandler lowered their target price on Generac from $303.00 to $279.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Finally, Zacks Research cut shares of Generac from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $290.41.

Generac Stock Performance

NYSE GNRC opened at $209.37 on Wednesday. The firm’s fifty day moving average price is $199.20 and its two-hundred day moving average price is $217.96. The stock has a market cap of $12.36 billion, a PE ratio of 41.46, a PEG ratio of 1.72 and a beta of 1.86. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.97.

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

Insider Buying and Selling

In other Generac news, insider Kyle Raabe sold 603 shares of the company’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $212.57, for a total value of $128,179.71. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 150 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $220.00, for a total value of $33,000.00. Following the completion of the transaction, the insider owned 10,976 shares of the company’s stock, valued at $2,414,720. This represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,892 shares of company stock worth $2,561,730 in the last 90 days. Insiders own 2.40% of the company’s stock.

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.