Generac (NYSE:GNRC) Insider Sells $120,356.50 in Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the transaction, the insider owned 15,508 shares in the company, valued at $3,393,615.64. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Stock Up 0.7%

GNRC stock opened at $212.63 on Friday. The company has a market cap of $12.55 billion, a PE ratio of 48.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.92. The business has a 50-day simple moving average of $244.18 and a 200 day simple moving average of $226.22. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that Generac Holdings Inc. will post 9.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Generac

A number of institutional investors have recently added to or reduced their stakes in GNRC. N.E.W. Advisory Services LLC acquired a new stake in Generac in the second quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new stake in shares of Generac during the second quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Generac during the third quarter worth $26,000. Avalon Trust Co bought a new position in shares of Generac in the 1st quarter valued at $32,000. Finally, Essential Partners LLC lifted its stake in shares of Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GNRC has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Raymond James Financial set a $302.00 target price on Generac in a research note on Friday, May 22nd. Wells Fargo & Company raised their target price on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Needham & Company LLC lifted their price target on Generac from $282.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, UBS Group boosted their price target on Generac from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $284.84.

Generac Company Profile

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.