Generac (NYSE:GNRC) CEO Sells 5,000 Shares

Key Points

• Generac CEO Aaron Jagdfeld sold 5,000 shares at an average price of $182.21, generating $911,050. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 0.90%.
• Generac shares traded near $180.97, well below their 50-day and 200-day moving averages of $222.24 and $230.26, respectively. The stock has ranged from $134.80 to $296.44 over the past year.
• The company exceeded quarterly EPS expectations, reporting $2.91 versus the $2.01 consensus estimate, while revenue rose 10.3% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.84.

Generac Holdings Inc. (NYSE:GNRC - Get Free Report) CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $182.21, for a total value of $911,050.00. Following the completion of the sale, the chief executive officer owned 549,528 shares of the company's stock, valued at approximately $100,129,496.88. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aaron Jagdfeld also recently made the following trade(s):

• On Monday, August 3rd, Aaron Jagdfeld sold 5,000 shares of Generac stock. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00.

Generac Price Performance

NYSE:GNRC traded down $0.45 during mid-day trading on Wednesday, reaching $180.97. 668,146 shares of the company were exchanged, compared to its average volume of 1,045,747. 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 stock has a market cap of $10.68 billion, a PE ratio of 41.70, a PEG ratio of 1.58 and a beta of 1.91. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The company has a fifty day moving average of $222.24 and a 200 day moving average of $230.26.

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

Analysts Set New Price Targets

Several analysts have commented on GNRC shares. Needham & Company LLC upped their target price on shares of Generac from $282.00 to $283.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Canaccord Genuity Group decreased their target price on Generac from $325.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Weiss Ratings raised Generac from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Roth Capital set a $214.00 price target on shares of Generac in a research report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price objective on shares of Generac from $275.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Generac currently has an average rating of "Moderate Buy" and an average price target of $284.84.

Institutional Investors Weigh In On Generac

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP raised its stake in shares of Generac by 1.8% in the 2nd quarter. Corient Private Wealth LP now owns 18,016 shares of the technology company's stock valued at $5,275,000 after purchasing an additional 321 shares during the period. Amundi raised its position in Generac by 5.0% in the 2nd quarter. Amundi now owns 454,516 shares of the technology company's stock valued at $133,087,000 after buying an additional 21,500 shares during the last quarter. HighTower Advisors LLC lifted its stake in Generac by 1.6% in the 2nd quarter. HighTower Advisors LLC now owns 29,201 shares of the technology company's stock valued at $8,550,000 after acquiring an additional 468 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Generac during the 2nd quarter worth approximately $1,849,000. Finally, California State Teachers Retirement System grew its stake in shares of Generac by 29,322.7% during the 2nd quarter. California State Teachers Retirement System now owns 19,945,924 shares of the technology company's stock worth $5,840,366,000 after acquiring an additional 19,878,133 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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