Generac (NYSE:GNRC) Insider Sells $149,743.00 in Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider directly owned 16,108 shares of the company’s stock, valued at approximately $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Stock Down 8.1%

Shares of NYSE:GNRC opened at $239.96 on Thursday. The firm has a market cap of $14.13 billion, a P/E ratio of 75.22, a P/E/G ratio of 2.44 and a beta of 1.93. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a 12-month low of $123.66 and a 12-month high of $294.18. The business has a fifty day simple moving average of $241.24 and a 200 day simple moving average of $200.32.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.Generac’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. Analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GNRC. Invesco Ltd. raised its position in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares in the last quarter. Diamant Asset Management Inc. raised its position in shares of Generac by 19,433.0% in the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after acquiring an additional 662,665 shares in the last quarter. Bank of Montreal Can raised its position in shares of Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after acquiring an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Generac by 127.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after acquiring an additional 536,732 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Generac in the 4th quarter worth about $68,590,000. 84.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GNRC shares. Zacks Research lowered Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings raised Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Robert W. Baird set a $311.00 target price on Generac in a research report on Thursday, April 30th. Wells Fargo & Company raised their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company 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.