Insider Selling: Generac (NYSE:GNRC) Insider Sells 550 Shares of Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of Generac stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the sale, the insider owned 16,108 shares of the company’s stock, valued at approximately $4,385,564.08. This trade represents a 3.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Price Performance

Shares of GNRC traded up $3.93 during trading hours on Monday, reaching $265.47. 674,610 shares of the company’s stock traded hands, compared to its average volume of 1,032,006. Generac Holdings Inc. has a 12 month low of $123.66 and a 12 month high of $294.18. The firm’s 50 day simple moving average is $237.45 and its 200-day simple moving average is $197.95. The stock has a market cap of $15.63 billion, a PE ratio of 83.22, a price-to-earnings-growth ratio of 2.45 and a beta of 1.93. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current year.

Institutional Trading of Generac

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Generac in the third quarter worth approximately $26,000. Sentry Investment Management LLC boosted its stake in Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares in the last quarter. Avalon Trust Co bought a new stake in Generac in the first quarter valued at approximately $32,000. Essential Partners LLC lifted its position in Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in Generac in the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Argus upped their target price on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Raymond James Financial set a $302.00 target price on Generac in a research note on Friday, May 22nd. Guggenheim reaffirmed a “neutral” rating and issued a $202.00 target price on shares of Generac in a research note on Tuesday, February 10th. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Stephens reaffirmed an “overweight” rating and issued a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.88.

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.