Generac (NYSE:GNRC) Shares Down 10.3% After Insider Selling

Generac Holdings Inc. (NYSE:GNRC) shares traded down 10.3% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $230.00 and last traded at $231.2730. Approximately 511,870 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 1,022,328 shares. The stock had previously closed at $257.81.

Specifically, insider Norman P. Taffe sold 550 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares of the company’s stock, valued at approximately $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GNRC shares. Citigroup lifted their target price on shares of Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Raymond James Financial set a $302.00 price objective on shares of Generac in a research report on Friday, May 22nd. Weiss Ratings upgraded shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 30th. Roth Capital reiterated a “neutral” rating and set a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Finally, Zacks Research lowered Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $284.18.

Generac Stock Performance

The company has a market cap of $13.95 billion, a PE ratio of 74.26, a P/E/G ratio of 2.21 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The stock’s 50-day simple moving average is $266.50 and its 200 day simple moving average is $216.51.

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

Institutional Investors Weigh In On Generac

A number of institutional investors have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC lifted its holdings in Generac by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after acquiring an additional 16,229 shares during the period. Private Advisory Group LLC grew its stake in shares of Generac by 26.2% during the 4th quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company’s stock worth $8,016,000 after purchasing an additional 12,191 shares during the period. Lighthouse Investment Partners LLC increased its holdings in shares of Generac by 556.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock valued at $8,689,000 after purchasing an additional 43,999 shares in the last quarter. Willis Investment Counsel lifted its stake in shares of Generac by 10.5% in the fourth quarter. Willis Investment Counsel now owns 143,137 shares of the technology company’s stock valued at $19,520,000 after purchasing an additional 13,553 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Generac in the fourth quarter valued at about $699,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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.