Generac (NYSE:GNRC) Insider Norman Taffe Sells 400 Shares

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 400 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $188.70, for a total transaction of $75,480.00. Following the sale, the insider owned 11,276 shares in the company, valued at approximately $2,127,781.20. The trade was a 3.43% decrease in their position. The transaction was disclosed in a legal 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 Stock Performance

GNRC stock opened at $186.45 on Thursday. The stock’s 50 day simple moving average is $210.46 and its 200 day simple moving average is $228.58. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The stock has a market capitalization of $11.00 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 1.62 and a beta of 1.91.

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 the consensus estimate of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Institutional Trading of Generac

Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in shares of Generac by 29,322.7% during the 2nd quarter. California State Teachers Retirement System now owns 19,945,924 shares of the technology company’s stock valued at $5,840,366,000 after buying an additional 19,878,133 shares in the last quarter. BlackRock Inc. purchased a new stake in Generac in the 2nd quarter worth approximately $1,170,960,000. Invesco Ltd. increased its holdings in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares in the last quarter. State Street Corp raised its stake in Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after acquiring an additional 45,592 shares during the period. Finally, Boston Partners raised its stake in Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after acquiring an additional 128,439 shares during the period. Institutional investors own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

GNRC has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and set a $290.00 price target on shares of Generac in a report on Thursday, May 21st. Needham & Company LLC raised their target price on Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Barclays cut their price target on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. UBS Group upped their price target on shares of Generac from $335.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Zacks Research raised shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.