Generac Holdings Inc. $GNRC Shares Sold by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management reduced its Generac stake by 20.9% in the first quarter, selling 11,984 shares and ending with 45,280 shares valued at about $8.85 million.
• Generac posted better-than-expected quarterly results, with EPS of $1.80 versus $1.33 expected and revenue of $1.06 billion, up 12.5% year over year.
• Several analysts remain positive on GNRC, with recent price target increases and a consensus rating of Moderate Buy with a target price of $282, while the stock traded near its 52-week high.

Peregrine Capital Management LLC lowered its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 20.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,280 shares of the technology company's stock after selling 11,984 shares during the quarter. Peregrine Capital Management LLC owned 0.08% of Generac worth $8,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 purchased a new stake in Generac during the third quarter worth approximately $26,000. GHP Investment Advisors Inc. acquired a new stake in shares of Generac in the first quarter worth $36,000. IFP Advisors Inc raised its stake in shares of Generac by 33.8% in the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company's stock valued at $59,000 after acquiring an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Generac during the 4th quarter valued at $61,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Price Performance

GNRC stock opened at $293.28 on Wednesday. The stock's 50 day moving average is $262.46 and its two-hundred day moving average is $212.41. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The company has a market capitalization of $17.27 billion, a PE ratio of 91.94, a P/E/G ratio of 2.66 and a beta of 1.93. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

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

Analyst Ratings Changes

Several research firms have commented on GNRC. UBS Group raised their price objective on Generac from $305.00 to $335.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Citigroup raised their target price on Generac from $226.00 to $263.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Raymond James Financial set a $302.00 price target on Generac in a report on Friday, May 22nd. Wells Fargo & Company lifted their price objective on shares of Generac from $238.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Needham & Company LLC restated a "buy" rating on shares of Generac in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Generac has a consensus rating of "Moderate Buy" and a consensus target price of $282.00.

Insider Transactions at Generac

In related news, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares of the company's stock, valued at $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company's stock, valued at approximately $153,653,231.04. This represents a 0.88% 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. Corporate insiders own 2.40% of the company's stock.

Generac 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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