Baird Financial Group Inc. Sells 27,144 Shares of Generac Holdings Inc. $GNRC

Key Points

• Baird Financial Group reduced its Generac stake by 20.8% in the second quarter, selling 27,144 shares and retaining 103,388 shares worth approximately $30.3 million. Institutional investors collectively own 84.04% of Generac.
• Generac reported quarterly EPS of $2.91, well above the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion, slightly below expectations.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $284.84, despite the stock trading at $181.74 and recent insider sales conducted under pre-arranged plans.

Baird Financial Group Inc. decreased its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 20.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,388 shares of the technology company's stock after selling 27,144 shares during the quarter. Baird Financial Group Inc. owned approximately 0.18% of Generac worth $30,273,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Generac in the second quarter valued at about $25,000. MUFG Securities EMEA plc acquired a new position in shares of Generac in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Generac during the 3rd quarter valued at about $26,000. Avalon Trust Co bought a new stake in shares of Generac during the 1st quarter valued at about $32,000. Finally, Essential Partners LLC grew its stake in Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after purchasing an additional 61 shares during the period. 84.04% of the stock is owned by institutional investors.

Generac Price Performance

Shares of NYSE:GNRC opened at $181.74 on Friday. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The stock's 50 day moving average is $209.04 and its 200-day moving average is $228.24. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 1.59 and a beta of 1.91.

Generac (NYSE:GNRC - Get Free Report) last posted 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. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. Generac's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. Sell-side analysts forecast that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lowered their target price on Generac from $285.00 to $278.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Cantor Fitzgerald increased their price target on Generac from $325.00 to $333.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Stephens reaffirmed an "overweight" rating and set a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. Robert W. Baird set a $305.00 price objective on shares of Generac in a research note on Thursday, July 30th. Finally, TD Cowen reiterated a "buy" rating on shares of Generac in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $284.84.

Insider Buying and Selling at Generac

In other news, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares of the company's stock, valued at $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the completion of the sale, the chief executive officer owned 554,528 shares in the company, valued at $108,071,961.92. This represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 12,086 shares of company stock valued at $2,347,160. Corporate insiders own 2.40% of the company's stock.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation and energy management products. Its portfolio includes residential standby generators, portable generators, commercial and industrial generator systems, and related transfer switches, controls and monitoring technologies.

The company also offers clean energy and electrification solutions, including battery energy storage systems, solar-related products, electric vehicle chargers and load-management technologies.

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