York A. Ragen Sells 26,685 Shares of Generac Holdings Inc. (GNRC) Stock
Generac Holdings Inc. (NYSE:GNRC) CFO York A. Ragen sold 26,685 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $41.25, for a total value of $1,100,756.25. Following the sale, the chief financial officer now owns 121,246 shares in the company, valued at approximately $5,001,397.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Generac Holdings Inc. (NYSE:GNRC) opened at 41.34 on Monday. Generac Holdings Inc. has a 52-week low of $26.29 and a 52-week high of $41.77. The firm has a market cap of $2.64 billion, a P/E ratio of 41.22 and a beta of 1.05. The stock has a 50 day moving average price of $36.96 and a 200 day moving average price of $36.58.
Generac Holdings (NYSE:GNRC) last issued its earnings results on Wednesday, October 26th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The company earned $373.10 million during the quarter, compared to the consensus estimate of $363.10 million. Generac Holdings had a return on equity of 42.39% and a net margin of 4.80%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. Equities analysts predict that Generac Holdings Inc. will post $2.84 earnings per share for the current fiscal year.
Several analysts have issued reports on GNRC shares. Bank of America Corp. lowered Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Monday, August 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded Generac Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Finally, Robert W. Baird set a $46.00 price objective on Generac Holdings and gave the company a “buy” rating in a research note on Thursday, October 27th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $41.25.
Institutional investors have recently added to or reduced their stakes in the stock. Scopia Capital Management LP bought a new position in Generac Holdings during the third quarter worth about $41,002,000. Rothschild Asset Management Inc. bought a new position in Generac Holdings during the second quarter worth about $14,539,000. Loomis Sayles & Co. L P increased its position in Generac Holdings by 132.8% in the second quarter. Loomis Sayles & Co. L P now owns 727,830 shares of the company’s stock worth $25,445,000 after buying an additional 415,192 shares during the period. Perkins Investment Management LLC increased its position in Generac Holdings by 23.4% in the third quarter. Perkins Investment Management LLC now owns 2,090,536 shares of the company’s stock worth $75,886,000 after buying an additional 396,265 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Generac Holdings during the first quarter worth about $12,911,000.
About Generac Holdings
Generac Holdings Inc (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use.
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