Generac Holdings Inc. $GNRC Stock Holdings Trimmed by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 24.3% in the second quarter, HoldingsChannel reports. The fund owned 47,246 shares of the technology company’s stock after selling 15,148 shares during the period. Van ECK Associates Corp’s holdings in Generac were worth $13,834,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GNRC. N.E.W. Advisory Services LLC acquired a new position in shares of Generac during the second quarter valued at $25,000. MUFG Securities EMEA plc bought a new position in Generac in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Generac in the 3rd quarter valued at about $26,000. Avalon Trust Co acquired a new position in Generac during the 1st quarter valued at about $32,000. Finally, Essential Partners LLC increased its stake in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after buying an additional 61 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Trading Up 1.2%

Shares of GNRC opened at $185.97 on Tuesday. 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 1-year low of $134.80 and a 1-year high of $296.44. The stock has a market capitalization of $10.97 billion, a P/E ratio of 42.85, a P/E/G ratio of 1.57 and a beta of 1.92. The business’s 50-day moving average price is $224.10 and its 200 day moving average price is $230.49.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Insider Activity at Generac

In other news, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the sale, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. This represents a 5.17% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares of the company’s stock, valued at approximately $108,071,961.92. This represents a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 7,236 shares of company stock valued at $1,510,373. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GNRC shares. Weiss Ratings raised Generac from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Canaccord Genuity Group reduced their price objective on shares of Generac from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Stephens reaffirmed an “overweight” rating and issued a $290.00 price objective on shares of Generac in a research note on Thursday, May 21st. DA Davidson set a $333.00 target price on shares of Generac in a research note on Thursday, July 30th. Finally, UBS Group increased their target price on shares of Generac from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.