Norman Taffe Sells 550 Shares of Generac (NYSE:GNRC) Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Price Performance

Shares of NYSE:GNRC traded down $6.20 during midday trading on Thursday, hitting $211.21. The stock had a trading volume of 1,060,536 shares, compared to its average volume of 1,056,814. The company’s 50-day moving average price is $246.84 and its 200-day moving average price is $225.96. The company has a market capitalization of $12.43 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 1.89 and a beta of 1.92. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44.

Generac (NYSE:GNRC) last issued 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 net margin of 5.82% and a return on equity of 17.83%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 EPS. As a group, equities research analysts predict that Generac Holdings Inc. will post 9.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Generac

Several hedge funds have recently modified their holdings of GNRC. NewEdge Advisors LLC boosted its stake in shares of Generac by 6.2% during 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 holdings in Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after buying an additional 1,463 shares during the last quarter. First Trust Advisors LP raised its holdings in Generac by 27.6% in the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock valued at $14,507,000 after buying an additional 21,908 shares during the last quarter. Cerity Partners LLC boosted its position in Generac by 1.6% during 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 during the period. Finally, California Public Employees Retirement System boosted its position in Generac by 8.6% during 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 period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Generac from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. TD Cowen restated a “buy” rating on shares of Generac in a research report on Monday, July 20th. Needham & Company LLC raised their price objective on Generac from $282.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. UBS Group boosted their target price on Generac from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two equities 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. Based on data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $284.84.

About Generac

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.