Generac Holdings Inc. $GNRC Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its holdings in Generac Holdings Inc. (NYSE:GNRC) by 26.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,869 shares of the technology company’s stock after selling 4,668 shares during the period. Glenmede Trust Co. NA’s holdings in Generac were worth $2,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MUFG Securities EMEA plc purchased a new stake in Generac during the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac in the third quarter worth approximately $26,000. Avalon Trust Co purchased a new position in shares of Generac in the first quarter worth approximately $32,000. Essential Partners LLC raised its holdings in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Generac during the first quarter valued at approximately $36,000. 84.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the transaction, the insider owned 15,808 shares in the company, valued at $4,046,848. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 11,100 shares of company stock worth $2,625,893. 2.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GNRC. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Canaccord Genuity Group reduced their target price on Generac from $325.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Stephens reaffirmed an “overweight” rating and issued a $290.00 target price on shares of Generac in a research report on Thursday, May 21st. Citigroup lifted their price target on Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, DA Davidson set a $333.00 price target on Generac in a research report on Thursday, July 30th. Two research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $284.84.

Generac Stock Performance

Shares of NYSE GNRC opened at $219.03 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The business’s 50-day moving average price is $248.10 and its two-hundred day moving average price is $225.57. The company has a market capitalization of $12.89 billion, a P/E ratio of 50.47, a price-to-earnings-growth ratio of 1.74 and a beta of 1.92.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. Analysts anticipate that Generac Holdings Inc. will post 9.63 earnings per share for the current fiscal year.

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.