Commonwealth Equity Services LLC Sells 6,585 Shares of Generac Holdings Inc. $GNRC

Commonwealth Equity Services LLC trimmed its stake in Generac Holdings Inc. (NYSE:GNRC) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,846 shares of the technology company’s stock after selling 6,585 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Generac worth $5,979,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Generac in the third quarter worth $26,000. Sentry Investment Management LLC boosted its holdings in Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Generac in the second quarter worth $25,000. Quarry LP boosted its holdings in Generac by 66.3% in the third quarter. Quarry LP now owns 399 shares of the technology company’s stock worth $67,000 after acquiring an additional 159 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Generac in the third quarter worth $67,000. 84.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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. Corporate insiders own 2.40% of the company’s stock.

Generac Trading Down 6.0%

Shares of NYSE:GNRC opened at $261.39 on Friday. Generac Holdings Inc. has a 1 year low of $123.66 and a 1 year high of $294.18. The stock’s fifty day moving average price is $237.45 and its 200-day moving average price is $197.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The company has a market cap of $15.39 billion, a P/E ratio of 81.94, a PEG ratio of 2.60 and a beta of 1.93.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. Generac’s revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GNRC. Wells Fargo & Company upped their price target on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Zacks Research raised Generac from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. TD Cowen upped their price target on Generac from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Canaccord Genuity Group upped their price target on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $276.88.

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.