Key Points
- Generac insider Norman Taffe sold 400 shares at an average price of $188.70, totaling $75,480. The Rule 10b5-1 transaction reduced his direct ownership by 3.43% to 11,276 shares.
- Generac reported quarterly EPS of $2.91, exceeding the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion.
- Institutional investors own 84.04% of the company, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.84.
Generac Holdings Inc. (NYSE:GNRC - Get Free Report) insider Norman Taffe sold 400 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $188.70, for a total value of $75,480.00. Following the sale, the insider directly owned 11,276 shares in the company, valued at approximately $2,127,781.20. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Generac Stock Performance
NYSE GNRC opened at $186.45 on Thursday. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 1.62 and a beta of 1.91. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $210.46 and a 200-day moving average price of $228.58. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44.
Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.90. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. As a group, equities research analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in shares of Generac by 6.2% in the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company's stock valued at $309,000 after purchasing an additional 142 shares in the last quarter. Woodline Partners LP raised its stake in Generac by 40.9% during the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company's stock valued at $638,000 after purchasing an additional 1,463 shares in the last quarter. First Trust Advisors LP lifted its position in Generac by 27.6% during the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company's stock valued at $14,507,000 after purchasing an additional 21,908 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Generac by 1.6% in the 2nd quarter. Cerity Partners LLC now owns 50,550 shares of the technology company's stock worth $7,239,000 after buying an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Generac by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock worth $14,929,000 after buying an additional 8,213 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Generac from $325.00 to $333.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Generac from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday, May 22nd. Jefferies Financial Group reiterated a "buy" rating on shares of Generac in a research note on Wednesday, June 3rd. Finally, Robert W. Baird set a $305.00 price objective on shares of Generac in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $284.84.
Read Our Latest Stock 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.
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