Norman Taffe Sells 550 Shares of Generac (NYSE:GNRC) Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the transaction, the insider directly owned 15,508 shares in the company, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Stock Up 0.7%

Shares of NYSE GNRC opened at $212.63 on Friday. The firm has a market cap of $12.55 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.81 and a beta of 1.92. The company’s 50-day simple moving average is $244.18 and its 200-day simple moving average is $226.22. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts predict that Generac Holdings Inc. will post 9.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James Financial set a $302.00 price target on shares of Generac in a research note on Friday, May 22nd. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Needham & Company LLC increased their price objective on shares of Generac from $282.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Cantor Fitzgerald raised their target price on shares of Generac from $325.00 to $333.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company boosted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $284.84.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in shares of Generac by 42.8% in the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after buying an additional 27,893 shares during the period. Willis Investment Counsel raised its position in shares of Generac by 10.5% during the 4th quarter. Willis Investment Counsel now owns 143,137 shares of the technology company’s stock valued at $19,520,000 after buying an additional 13,553 shares during the period. Needham Investment Management LLC raised its position in shares of Generac by 213.6% during the 4th quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock valued at $4,705,000 after buying an additional 23,500 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in Generac in the fourth quarter valued at approximately $699,000. Finally, Patton Fund Management Inc. acquired a new position in Generac in the first quarter valued at approximately $3,797,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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.