Generac Holdings Inc. (NYSE:GNRC) Shares Purchased by Romano Brothers AND Company

Romano Brothers AND Company grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,595 shares of the technology company’s stock after purchasing an additional 350 shares during the period. Romano Brothers AND Company’s holdings in Generac were worth $2,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GNRC. Parkside Financial Bank & Trust lifted its position in shares of Generac by 1,066.7% during the 1st quarter. Parkside Financial Bank & Trust now owns 140 shares of the technology company’s stock valued at $42,000 after acquiring an additional 128 shares during the last quarter. OLD Mission Capital LLC acquired a new stake in shares of Generac in the 4th quarter valued at $26,000. Ameritas Advisory Services LLC acquired a new position in shares of Generac during the 1st quarter valued at about $28,000. Castleview Partners LLC acquired a new position in shares of Generac during the 1st quarter worth about $30,000. Finally, Cambridge Trust Co. increased its stake in Generac by 50.0% during the first quarter. Cambridge Trust Co. now owns 300 shares of the technology company’s stock valued at $32,000 after acquiring an additional 100 shares during the period. 87.59% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Down 0.5 %

Generac stock traded down $0.53 during midday trading on Tuesday, reaching $109.47. The company’s stock had a trading volume of 434,721 shares, compared to its average volume of 1,343,157. The company has a market cap of $6.81 billion, a P/E ratio of 45.65, a P/E/G ratio of 2.06 and a beta of 1.28. The company has a quick ratio of 0.89, a current ratio of 2.43 and a debt-to-equity ratio of 0.63. Generac Holdings Inc. has a fifty-two week low of $86.29 and a fifty-two week high of $194.92. The business has a 50-day simple moving average of $124.78 and a 200-day simple moving average of $118.97.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.08). Generac had a net margin of 4.64% and a return on equity of 14.23%. The firm had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $979.51 million. During the same period in the previous year, the firm posted $2.99 earnings per share. The firm’s revenue for the quarter was down 22.5% on a year-over-year basis. On average, research analysts expect that Generac Holdings Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Generac news, EVP Rajendra Kumar Kanuru sold 250 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $149.15, for a total transaction of $37,287.50. Following the transaction, the executive vice president now owns 16,618 shares of the company’s stock, valued at approximately $2,478,574.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Rajendra Kumar Kanuru sold 250 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $149.15, for a total transaction of $37,287.50. Following the completion of the sale, the executive vice president now directly owns 16,618 shares in the company, valued at $2,478,574.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.23, for a total value of $601,150.00. Following the sale, the chief executive officer now owns 602,690 shares of the company’s stock, valued at $72,461,418.70. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock worth $1,414,245 in the last quarter. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on GNRC shares. Bank of America decreased their price objective on shares of Generac from $95.00 to $90.00 in a report on Thursday, July 6th. Canaccord Genuity Group lowered their price target on Generac from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Truist Financial upgraded Generac from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. StockNews.com initiated coverage on Generac in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Oppenheimer cut their target price on Generac from $145.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Generac presently has an average rating of “Hold” and an average target price of $143.04.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.