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

Peregrine Capital Management LLC reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 20.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 45,280 shares of the technology company’s stock after selling 11,984 shares during the quarter. Peregrine Capital Management LLC’s holdings in Generac were worth $8,845,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of GNRC. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac during the 3rd quarter worth approximately $26,000. MUFG Securities EMEA plc bought a new position in Generac during the 2nd quarter worth $25,000. GHP Investment Advisors Inc. acquired a new stake in Generac in the first quarter worth $36,000. Quarry LP lifted its stake in Generac by 66.2% in the third quarter. Quarry LP now owns 399 shares of the technology company’s stock valued at $67,000 after buying an additional 159 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Generac during the third quarter valued at $67,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GNRC shares. Roth Mkm reaffirmed a “neutral” rating and issued a $257.00 price objective on shares of Generac in a report on Thursday, April 30th. Bank of America dropped their price target on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. Barclays boosted their price objective on Generac from $228.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Weiss Ratings cut Generac from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Generac currently has an average rating of “Moderate Buy” and an average price target of $282.00.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was 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 directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 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 sale, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.40% of the company’s stock.

Generac Stock Performance

GNRC opened at $293.28 on Wednesday. The business has a 50 day moving average price of $262.46 and a two-hundred day moving average price of $212.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The company has a market capitalization of $17.27 billion, a price-to-earnings ratio of 91.94, a price-to-earnings-growth ratio of 2.66 and a beta of 1.93. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. Research analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

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.