Norman Taffe Sells 400 Shares of Generac (NYSE:GNRC) Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $188.70, for a total value of $75,480.00. Following the completion of the transaction, the insider directly owned 11,276 shares in the company, valued at $2,127,781.20. The trade was a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Stock Performance

Shares of NYSE GNRC traded down $3.76 during trading hours on Wednesday, reaching $186.45. 570,266 shares of the stock were exchanged, compared to its average volume of 1,039,025. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 42.96, a P/E/G ratio of 1.60 and a beta of 1.91. The stock’s fifty day simple moving average is $212.14 and its 200 day simple moving average is $228.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. TD Cowen reaffirmed a “buy” rating on shares of Generac in a research report on Monday, July 20th. Needham & Company LLC lifted their price objective on shares of Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Roth Capital set a $214.00 price objective on shares of Generac in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.84.

Institutional Trading of Generac

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in shares of Generac by 29,322.7% in the second quarter. California State Teachers Retirement System now owns 19,945,924 shares of the technology company’s stock worth $5,840,366,000 after purchasing an additional 19,878,133 shares during the period. BlackRock Inc. bought a new stake in Generac during the second quarter worth about $1,170,960,000. Invesco Ltd. lifted its position in Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares during the period. Diamant Asset Management Inc. lifted its position in Generac by 19,433.0% during the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after purchasing an additional 662,665 shares during the period. Finally, Bank of Montreal Can grew its stake in Generac by 1,141.1% during the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after buying an additional 639,551 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Company Profile

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.