State of Alaska Department of Revenue Grows Stock Position in Generac Holdings Inc. (NYSE:GNRC)

State of Alaska Department of Revenue increased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 27,986 shares of the technology company’s stock after purchasing an additional 320 shares during the period. State of Alaska Department of Revenue’s holdings in Generac were worth $4,445,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Generac by 66.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,424 shares of the technology company’s stock valued at $685,000 after buying an additional 1,762 shares during the last quarter. Court Place Advisors LLC purchased a new stake in Generac during the 3rd quarter valued at about $230,000. Dakota Wealth Management raised its holdings in Generac by 1,402.5% in the 3rd quarter. Dakota Wealth Management now owns 30,801 shares of the technology company’s stock valued at $4,894,000 after acquiring an additional 28,751 shares during the last quarter. X Square Capital LLC lifted its stake in Generac by 5.7% in the 3rd quarter. X Square Capital LLC now owns 14,227 shares of the technology company’s stock worth $2,260,000 after purchasing an additional 773 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after purchasing an additional 266,026 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GNRC. Scotiabank increased their price target on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Wells Fargo & Company raised their target price on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler boosted their price target on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.40.

Generac Stock Performance

Shares of Generac stock opened at $165.60 on Wednesday. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 45.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The business has a 50-day moving average of $156.10 and a 200 day moving average of $147.41. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $176.14.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 6.49 earnings per share for the current year.

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.