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

Janney Montgomery Scott LLC reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 11.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Generac in the third quarter valued at $26,000. MUFG Securities EMEA plc acquired a new position in shares of Generac during the 2nd quarter worth $25,000. GHP Investment Advisors Inc. purchased a new position in shares of Generac in the 1st quarter valued at about $36,000. Quarry LP increased its holdings in shares of Generac by 66.2% in the 3rd quarter. Quarry LP now owns 399 shares of the technology company’s stock valued at $67,000 after purchasing an additional 159 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Generac in the third quarter valued at about $67,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of NYSE GNRC opened at $253.04 on Monday. The stock has a market cap 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 Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The company’s 50-day moving average price is $265.08 and its 200 day moving average price is $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.

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

Insider Buying and Selling

In related news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred on Friday, June 5th. The stock was 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. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GNRC. Canaccord Genuity Group boosted their price objective on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. UBS Group increased their target price on shares of Generac from $305.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Citigroup lifted their price target on shares of Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company raised their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and a consensus price target of $284.18.

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.