Generac (NYSE:GNRC) Insider Norman Taffe Sells 150 Shares of Company Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 150 shares of Generac stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $220.00, for a total value of $33,000.00. Following the completion of the transaction, the insider owned 10,976 shares of the company’s stock, valued at approximately $2,414,720. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Stock Down 0.8%

Shares of NYSE:GNRC traded down $1.86 during trading hours on Wednesday, reaching $221.76. The stock had a trading volume of 876,970 shares, compared to its average volume of 1,087,536. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The firm’s 50 day moving average is $201.57 and its 200-day moving average is $226.42. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 51.10, a P/E/G ratio of 1.83 and a beta of 1.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.01 by $0.90. The company 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 firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. Research analysts predict that Generac Holdings Inc. will post 9.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Generac

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Generac during the second quarter valued at about $1,170,960,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Generac by 9.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock valued at $202,849,000 after purchasing an additional 86,863 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Generac in the 2nd quarter valued at about $175,942,000. Park Presidio Capital LLC purchased a new stake in shares of Generac during the 2nd quarter worth about $158,140,000. Finally, Amundi increased its position in Generac by 5.0% during the 2nd quarter. Amundi now owns 454,516 shares of the technology company’s stock worth $133,087,000 after purchasing an additional 21,500 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on GNRC. Cantor Fitzgerald decreased their price objective on Generac from $333.00 to $297.00 and set an “overweight” rating for the company in a research report on Monday. Barclays cut their price target on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. HSBC downgraded Generac to a “hold” rating and set a $333.00 price target for the company. in a report on Thursday, September 17th. Stifel Nicolaus boosted their price objective on shares of Generac from $285.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. Finally, Canaccord Genuity Group upped their price objective on shares of Generac from $275.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and an average price target of $290.45.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.