Norman Taffe Sells 400 Shares of Generac (NYSE:GNRC) Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $188.70, for a total transaction of $75,480.00. Following the completion of the transaction, the insider owned 11,276 shares in the company, valued at approximately $2,127,781.20. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Trading Down 2.5%

Shares of Generac stock opened at $181.74 on Friday. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The firm has a market cap of $10.72 billion, a PE ratio of 41.87, a PEG ratio of 1.59 and a beta of 1.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The company has a 50 day simple moving average of $209.04 and a two-hundred day simple moving average of $228.24.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. Analysts expect that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald raised their price target on Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Raymond James Financial set a $302.00 price objective on Generac in a report on Friday, May 22nd. Barclays decreased their price objective on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. UBS Group boosted their target price on Generac from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

Hedge Funds Weigh In On Generac

Several institutional investors and hedge funds have recently bought and sold shares of GNRC. NewEdge Advisors LLC grew its holdings in shares of Generac by 6.2% in the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after purchasing an additional 142 shares during the last quarter. Woodline Partners LP increased its position in shares of Generac by 40.9% in the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after acquiring an additional 1,463 shares during the period. First Trust Advisors LP raised its stake in shares of Generac by 27.6% during the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock valued at $14,507,000 after acquiring an additional 21,908 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Generac by 1.6% during the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after purchasing an additional 816 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Generac by 8.6% during the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after purchasing an additional 8,213 shares during the period. 84.04% of the stock is currently owned by institutional investors.

About Generac

Generac Holdings Inc is an energy technology company that designs and manufactures power generation and energy management products. Its portfolio includes residential standby generators, portable generators, commercial and industrial generator systems, and related transfer switches, controls and monitoring technologies.

The company also offers clean energy and electrification solutions, including battery energy storage systems, solar-related products, electric vehicle chargers and load-management technologies.