Generac (NYSE:GNRC) Stock: Insider Norman Taffe Sells 300 Shares

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 300 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $182.01, for a total value of $54,603.00. Following the completion of the transaction, the insider directly owned 10,676 shares in the company, valued at approximately $1,943,138.76. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Stock Up 2.2%

Generac stock opened at $176.13 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.97. The business’s 50-day simple moving average is $197.79 and its two-hundred day simple moving average is $218.22. The company has a market cap of $10.39 billion, a PE ratio of 34.88, a PEG ratio of 1.50 and a beta of 1.86. 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 posted its quarterly earnings results on Wednesday, October 28th. The technology company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.40 by $0.14. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Generac had a net margin of 6.52% and a return on equity of 18.78%. The firm’s revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 earnings per share. Equities analysts anticipate that Generac Holdings Inc. will post 9.84 EPS for the current year.

Analyst Upgrades and Downgrades

GNRC has been the topic of several analyst reports. Citigroup raised their target price on Generac from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. UBS Group reiterated a “buy” rating on shares of Generac in a research report on Friday, September 25th. Roth Capital boosted their price target on Generac from $214.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, September 17th. Barclays upped their price objective on Generac from $278.00 to $281.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Finally, Raymond James Financial set a $279.00 price objective on shares of Generac in a research note on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $290.41.

Institutional Investors Weigh In On Generac

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Generac in the 2nd quarter valued at about $1,170,960,000. Arrowstreet Capital Limited Partnership grew its holdings in Generac by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock valued at $202,849,000 after purchasing an additional 86,863 shares during the period. Bank of America Corp DE grew its holdings in Generac by 19.7% in the first quarter. Bank of America Corp DE now owns 742,576 shares of the technology company’s stock valued at $145,047,000 after purchasing an additional 122,101 shares during the period. Mawer Investment Management Ltd. increased its position in shares of Generac by 8,166.5% in the third quarter. Mawer Investment Management Ltd. now owns 599,235 shares of the technology company’s stock valued at $124,012,000 after buying an additional 591,986 shares in the last quarter. Finally, Park Presidio Capital LLC purchased a new stake in shares of Generac in the second quarter valued at approximately $158,140,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc designs and manufactures backup power generation equipment and energy technology solutions. Its products include home standby and portable generators, as well as power systems for commercial, industrial, and other applications.

The company also offers energy storage and management products, solar-related solutions, and services that help customers monitor and manage power use. Generac serves residential, commercial, and industrial customers, with a presence in North America and other markets around the world.

Founded in 1959, Generac has expanded from its generator-manufacturing roots into a broader provider of backup power and energy management technologies.