Generac Holdings Inc. $GNRC Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 64.3% in the third quarter, Holdings Channel reports. The firm owned 2,277 shares of the technology company’s stock after selling 4,105 shares during the quarter. Sigma Planning Corp’s holdings in Generac were worth $471,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Generac during the second quarter valued at $1,170,960,000. Bank of America Corp DE purchased a new stake in shares of Generac during the 2nd quarter valued at about $175,942,000. Park Presidio Capital LLC purchased a new stake in shares of Generac during the 2nd quarter valued at about $158,140,000. Bank of New York Mellon Corp bought a new stake in shares of Generac in the second quarter worth approximately $90,872,000. Finally, Amundi grew its stake in shares of Generac by 174.9% in the first quarter. Amundi now owns 433,016 shares of the technology company’s stock worth $84,581,000 after acquiring an additional 275,506 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the transaction, the chief executive officer directly owned 554,528 shares of the company’s stock, valued at approximately $108,071,961.92. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,442 shares of company stock worth $3,656,537 over the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. HSBC cut shares of Generac to a “hold” rating and set a $333.00 price objective for the company. in a report on Thursday, September 17th. DA Davidson set a $333.00 price objective on Generac in a research report on Thursday, July 30th. Weiss Ratings raised Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Zacks Research lowered Generac from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Wells Fargo & Company set a $280.00 price target on shares of Generac in a report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.41.

Generac Trading Down 2.8%

Generac stock opened at $197.70 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The stock’s 50 day simple moving average is $199.18 and its two-hundred day simple moving average is $217.49. The firm has a market cap of $11.67 billion, a PE ratio of 39.15, a P/E/G ratio of 1.69 and a beta of 1.91.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 earnings per share. Analysts anticipate that Generac Holdings Inc. will post 9.80 earnings per share for the current year.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.