Key Points
- Generac CEO Aaron Jagdfeld sold 5,000 shares on June 1 at an average price of $272.18, totaling about $1.36 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Jagdfeld still owned 564,528 shares valued at roughly $153.7 million, a 0.88% reduction in his position.
- Generac recently reported strong quarterly results, with EPS of $1.80 beating estimates and revenue of $1.06 billion topping expectations. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $276.88.
Generac Holdings Inc. (NYSE:GNRC - Get Free Report) CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Generac Price Performance
NYSE GNRC opened at $285.29 on Thursday. The stock has a market capitalization of $16.80 billion, a P/E ratio of 89.43, a P/E/G ratio of 2.66 and a beta of 1.93. Generac Holdings Inc. has a 1 year low of $123.66 and a 1 year high of $294.18. The business's fifty day moving average is $234.94 and its two-hundred day moving average is $196.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.
Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm's revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, research analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Generac
A number of large investors have recently made changes to their positions in GNRC. MUFG Securities EMEA plc acquired a new position in shares of Generac in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac during the 3rd quarter valued at $26,000. Sentry Investment Management LLC boosted its stake in shares of Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock valued at $28,000 after buying an additional 67 shares during the period. Avalon Trust Co acquired a new stake in shares of Generac during the 1st quarter valued at $32,000. Finally, Essential Partners LLC grew 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 acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.
Analyst Upgrades and Downgrades
GNRC has been the topic of several research reports. Guggenheim reaffirmed a "neutral" rating and issued a $202.00 price target on shares of Generac in a report on Tuesday, February 10th. Needham & Company LLC reaffirmed a "buy" rating on shares of Generac in a report on Tuesday. TD Cowen lifted their price objective on shares of Generac from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Generac from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Generac from $229.00 to $267.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Generac currently has an average rating of "Moderate Buy" and a consensus price target of $276.88.
Check Out Our Latest Analysis on GNRC
About Generac
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
