Generac Holdings Inc. $GNRC Shares Sold by Van ECK Associates Corp

Key Points

• Van ECK Associates reduced its Generac position by 24.3% in the second quarter, selling 15,148 shares and retaining 47,246 shares valued at approximately $13.8 million. Institutional investors collectively own 84.04% of GNRC.
• Analysts maintain a generally positive outlook, with Generac receiving a “Moderate Buy” consensus rating and an average price target of $284.84. Recent upgrades included Stifel Nicolaus raising its target to $285 and Zacks Research moving the stock to “strong buy.”
• Generac exceeded quarterly earnings expectations, reporting $2.91 in EPS versus the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion. However, company insiders sold 7,236 shares worth about $1.51 million over the past 90 days.

Van ECK Associates Corp reduced its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 24.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,246 shares of the technology company's stock after selling 15,148 shares during the quarter. Van ECK Associates Corp owned about 0.08% of Generac worth $13,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNRC. N.E.W. Advisory Services LLC purchased a new stake in Generac during the second quarter worth approximately $25,000. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac in the third quarter valued at about $26,000. Avalon Trust Co purchased a new stake in shares of Generac during the 1st quarter valued at about $32,000. Finally, Essential Partners LLC lifted its position in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group restated a "buy" rating on shares of Generac in a report on Wednesday, June 3rd. Zacks Research raised shares of Generac from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Stifel Nicolaus upped their target price on shares of Generac from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Generac from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Finally, Roth Capital set a $214.00 price target on shares of Generac in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $284.84.

Generac Stock Performance

Shares of GNRC stock opened at $185.97 on Tuesday. 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 one year low of $134.80 and a one year high of $296.44. The company's 50-day simple moving average is $224.10 and its 200-day simple moving average is $230.49. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 42.85, a PEG ratio of 1.57 and a beta of 1.92.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $1.65 EPS. Generac's quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of Generac stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the transaction, the insider directly owned 10,746 shares in the company, valued at $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The sale 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, insider Norman P. Taffe sold 550 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider directly owned 15,508 shares of the company's stock, valued at $3,393,615.64. This trade represents a 3.43% 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. Insiders sold a total of 7,236 shares of company stock worth $1,510,373 over the last 90 days. 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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