Econ Financial Services Corp Cuts Stock Position in Generac Holdings Inc. $GNRC

Econ Financial Services Corp decreased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 24.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,994 shares of the technology company’s stock after selling 3,215 shares during the period. Econ Financial Services Corp’s holdings in Generac were worth $1,952,000 at the end of the most recent quarter.

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

Generac Trading Down 5.4%

Shares of NYSE:GNRC opened at $279.28 on Friday. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The company’s 50 day moving average is $259.31 and its two-hundred day moving average is $210.33. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a market cap of $16.44 billion, a PE ratio of 87.55, a P/E/G ratio of 2.76 and a beta of 1.93.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. Equities analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on GNRC. Wall Street Zen upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Citigroup upped their price objective on Generac from $226.00 to $263.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Robert W. Baird set a $311.00 price objective on Generac in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.65.

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.