State of Michigan Retirement System Lowers Stock Position in Generac Holdings Inc. (NYSE:GNRC)

State of Michigan Retirement System cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,116 shares of the technology company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Generac were worth $2,499,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Modus Advisors LLC purchased a new stake in shares of Generac during the 4th quarter valued at $27,000. Versant Capital Management Inc grew its stake in shares of Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after buying an additional 145 shares during the period. Cranbrook Wealth Management LLC purchased a new stake in shares of Generac during the 4th quarter valued at $28,000. Brooklyn Investment Group purchased a new stake in shares of Generac during the 3rd quarter valued at $31,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Generac during the 4th quarter valued at $31,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Up 4.6 %

GNRC stock opened at $136.85 on Friday. Generac Holdings Inc. has a 12 month low of $110.35 and a 12 month high of $195.94. The firm has a market cap of $8.16 billion, a PE ratio of 25.34, a P/E/G ratio of 1.44 and a beta of 1.42. The firm has a 50 day simple moving average of $148.62 and a 200 day simple moving average of $159.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Equities research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on GNRC shares. Truist Financial lowered their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. UBS Group upped their price target on shares of Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus price target of $174.00.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the sale, the chief executive officer now owns 565,825 shares in the company, valued at approximately $82,129,498.75. This represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by insiders.

Generac Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.