Energy Income Partners LLC Sells 225,285 Shares of Generac Holdings Inc. $GNRC

Key Points

• Energy Income Partners reduced its Generac stake by 42.6%, selling 225,285 shares during the first quarter and retaining 303,046 shares worth approximately $59.2 million. Institutional investors collectively own 84.04% of GNRC.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $286.44; UBS raised its target to $335, while Barclays maintained an “equal weight” rating.
• Generac’s latest quarterly results exceeded expectations, with EPS of $1.80 versus the $1.33 estimate and revenue of $1.06 billion, up 12.5% year over year. The stock opened at $197.06, down 2.4%, and remains below its 12-month high of $296.44.

Energy Income Partners LLC lowered its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 42.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 303,046 shares of the technology company's stock after selling 225,285 shares during the quarter. Energy Income Partners LLC owned 0.51% of Generac worth $59,194,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MUFG Securities EMEA plc bought a new stake in Generac during the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Generac in the 3rd quarter valued at approximately $26,000. Avalon Trust Co purchased a new position in shares of Generac in the 1st quarter worth approximately $32,000. GHP Investment Advisors Inc. purchased a new position in shares of Generac in the 1st quarter worth approximately $36,000. Finally, Root Financial Partners LLC increased its position in shares of Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 54 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares of the company's stock, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the sale, the insider owned 15,808 shares of the company's stock, valued at $4,046,848. The trade was a 3.36% 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 ninety days, insiders have sold 6,100 shares of company stock worth $1,651,443. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

GNRC has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating on shares of Generac in a research report on Tuesday, June 2nd. Stephens reiterated an "overweight" rating and set a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. UBS Group increased their target price on shares of Generac from $305.00 to $335.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Barclays raised their target price on shares of Generac from $228.00 to $285.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Finally, TD Cowen reiterated a "buy" rating on shares of Generac in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and a consensus price target of $286.44.

Generac Trading Down 2.4%

NYSE GNRC opened at $197.06 on Tuesday. The company's 50-day moving average price is $255.16 and its 200-day moving average price is $223.59. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market cap of $11.60 billion, a PE ratio of 61.78, a PEG ratio of 1.89 and a beta of 1.89. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Equities research analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

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.

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