Glenmede Trust Co. NA Sells 4,668 Shares of Generac Holdings Inc. $GNRC

Glenmede Trust Co. NA lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 26.6% during the 1st quarter, HoldingsChannel reports. The firm owned 12,869 shares of the technology company’s stock after selling 4,668 shares during the quarter. Glenmede Trust Co. NA’s holdings in Generac were worth $2,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GNRC. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Generac in the 3rd quarter valued at $26,000. Avalon Trust Co acquired a new position in Generac in the 1st quarter valued at $32,000. Essential Partners LLC raised its holdings in Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares during the period. Finally, GHP Investment Advisors Inc. bought a new position in Generac in the 1st quarter worth $36,000. Institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares of the company’s stock, valued at approximately $108,071,961.92. This trade represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total value of $140,800.00. Following the sale, the insider owned 15,808 shares in the company, valued at approximately $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,100 shares of company stock worth $2,625,893 in the last three months. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Generac from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Cantor Fitzgerald increased their target price on Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Canaccord Genuity Group lowered their target price on Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Roth Capital set a $214.00 price target on Generac in a research report on Thursday, July 30th. Two 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $284.84.

Generac Stock Up 8.9%

NYSE GNRC opened at $219.03 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The firm has a 50-day simple moving average of $248.10 and a 200 day simple moving average of $225.57. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The stock has a market cap of $12.89 billion, a PE ratio of 50.47, a PEG ratio of 1.74 and a beta of 1.92.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 17.83% and a net margin of 5.82%.The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. On average, research analysts forecast that Generac Holdings Inc. will post 9.63 EPS for the current year.

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.