Janney Montgomery Scott LLC Reduces Holdings in Generac Holdings Inc. $GNRC

Janney Montgomery Scott LLC reduced its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,905 shares of the technology company’s stock after selling 3,059 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Generac were worth $4,669,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. MUFG Securities EMEA plc acquired a new stake in shares of Generac during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Generac in the 3rd quarter valued at about $26,000. GHP Investment Advisors Inc. acquired a new stake in shares of Generac in the 1st quarter valued at about $36,000. IFP Advisors Inc boosted its position 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 purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Generac during the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Up 0.2%

Generac stock opened at $253.04 on Monday. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The stock has a 50 day moving average of $265.08 and a two-hundred day moving average of $214.45. 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 capitalization of $14.90 billion, a price-to-earnings ratio of 79.32, a PEG ratio of 2.36 and a beta of 1.89.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. As a group, research analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GNRC has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Raymond James Financial set a $302.00 price objective on Generac in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating on shares of Generac in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and an average price target of $284.18.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on 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 transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing 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 on Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider directly owned 16,108 shares in the company, valued at $4,385,564.08. This represents a 3.30% 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. Company insiders own 2.40% of the company’s stock.

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.