American International Group Inc. trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,926 shares of the technology company’s stock after selling 2,094 shares during the period. American International Group Inc. owned 0.06% of Generac worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the business. Financial Gravity Companies Inc. purchased a new stake in shares of Generac during the 4th quarter worth about $190,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Generac during the 4th quarter worth about $193,000. Capital Fund Management S.A. acquired a new position in shares of Generac during the 4th quarter worth about $208,000. Clarus Wealth Advisors acquired a new position in shares of Generac during the 4th quarter worth about $230,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Generac during the 4th quarter worth about $243,000. 97.86% of the stock is currently owned by institutional investors.
In other news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $44.73, for a total transaction of $894,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Russell S. Minick sold 14,662 shares of Generac stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $51.53, for a total transaction of $755,532.86. Following the sale, the insider now directly owns 25,353 shares of the company’s stock, valued at $1,306,440.09. The disclosure for this sale can be found here. Insiders sold a total of 54,662 shares of company stock valued at $2,658,133 in the last three months. 3.00% of the stock is currently owned by corporate insiders.
Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. Generac had a net margin of 10.37% and a return on equity of 45.91%. The firm had revenue of $397.60 million during the quarter, compared to analysts’ expectations of $390.66 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. research analysts forecast that Generac Holdings Inc. will post 3.75 earnings per share for the current fiscal year.
A number of analysts have commented on GNRC shares. Robert W. Baird downgraded shares of Generac from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Thursday, May 24th. Zacks Investment Research upgraded shares of Generac from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, May 4th. ValuEngine downgraded shares of Generac from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. SunTrust Banks increased their price objective on shares of Generac from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 28th. Finally, Canaccord Genuity set a $54.00 price target on shares of Generac and gave the stock a “hold” rating in a report on Sunday, March 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.73.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
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