State of Tennessee Department of Treasury Cuts Stock Position in Generac Holdings Inc. (NYSE:GNRC)

State of Tennessee Department of Treasury trimmed its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,482 shares of the technology company's stock after selling 10,263 shares during the period. State of Tennessee Department of Treasury owned approximately 0.08% of Generac worth $7,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GNRC. Barclays PLC increased its holdings in Generac by 41.4% in the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock worth $29,425,000 after acquiring an additional 54,202 shares in the last quarter. Diamant Asset Management Inc. lifted its holdings in shares of Generac by 11.7% in the third quarter. Diamant Asset Management Inc. now owns 3,810 shares of the technology company's stock worth $605,000 after buying an additional 400 shares in the last quarter. Morse Asset Management Inc lifted its stake in Generac by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 6,084 shares of the technology company's stock worth $967,000 after purchasing an additional 145 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Generac during the 3rd quarter valued at approximately $51,000. Finally, Synovus Financial Corp purchased a new stake in Generac during the third quarter valued at $300,000. Institutional investors own 84.04% of the company's stock.

Generac Stock Performance

NYSE GNRC traded up $0.53 on Monday, hitting $113.42. 733,267 shares of the company's stock traded hands, compared to its average volume of 866,804. The firm's 50-day moving average price is $124.62 and its two-hundred day moving average price is $151.52. The firm has a market capitalization of $6.76 billion, a PE ratio of 21.00, a P/E/G ratio of 1.44 and a beta of 1.58. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction 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 transaction, the chief executive officer now owns 565,825 shares of the company's stock, valued at approximately $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GNRC has been the topic of a number of analyst reports. Piper Sandler cut their price objective on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus dropped their price target on Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. UBS Group lifted their price objective on shares of Generac from $200.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group cut their price target on Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Guggenheim upgraded Generac from a "sell" rating to a "neutral" rating in a research note on Monday, March 17th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $173.40.

Generac Company 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.