Norman Taffe Sells 550 Shares of Generac (NYSE:GNRC) Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of Generac stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Trading Down 1.8%

NYSE:GNRC opened at $261.00 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a 1-year low of $123.66 and a 1-year high of $294.18. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 81.82, a price-to-earnings-growth ratio of 2.49 and a beta of 1.93. The stock has a fifty day simple moving average of $240.14 and a 200 day simple moving average of $199.62.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Sell-side analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Institutional Investors Weigh In On Generac

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNRC. Invesco Ltd. lifted its holdings in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. lifted its holdings in Generac by 19,433.0% in the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after purchasing an additional 662,665 shares during the last quarter. Bank of Montreal Can lifted its holdings in Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Generac by 127.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after purchasing an additional 536,732 shares during the last quarter. Finally, Norges Bank acquired a new stake in Generac in the 4th quarter worth approximately $68,590,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research lowered Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Robert W. Baird set a $311.00 price target on Generac in a report on Thursday, April 30th. Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Bank of America reduced their price target on Generac from $260.00 to $248.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Finally, Citigroup lifted their price target on Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $276.88.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.