Generac (NYSE:GNRC) Insider Sells $75,480.00 in Stock

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

Generac Stock Up 2.9%

Shares of NYSE:GNRC opened at $186.92 on Friday. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The company has a 50 day moving average of $207.71 and a 200-day moving average of $227.95. 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 stock has a market cap of $11.03 billion, a price-to-earnings ratio of 43.07, a P/E/G ratio of 1.55 and a beta of 1.91.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. Generac’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Hedge Funds Weigh In On Generac

Several institutional investors and hedge funds have recently made changes to their positions in GNRC. N.E.W. Advisory Services LLC bought a new position in Generac during the second quarter worth about $25,000. MUFG Securities EMEA plc bought a new stake in shares of Generac in the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Generac in the third quarter worth about $26,000. Avalon Trust Co acquired a new stake in shares of Generac during the first quarter worth about $32,000. Finally, Essential Partners LLC lifted its holdings in shares of Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GNRC shares. Stephens restated an “overweight” rating and issued a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. Robert W. Baird set a $305.00 target price on Generac in a research note on Thursday, July 30th. Needham & Company LLC raised their target price on Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Roth Capital set a $214.00 target price on Generac in a research report on Thursday, July 30th. Finally, Raymond James Financial set a $302.00 price target on Generac in a research note on Friday, May 22nd. Two investment 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $284.84.

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.