Generac Holdings Inc. (NYSE:GNRC) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky raised its stake in Generac Holdings Inc. (NYSE:GNRC) by 12,400.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,125 shares of the technology company’s stock after buying an additional 3,100 shares during the period. Independence Bank of Kentucky’s holdings in Generac were worth $394,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of GNRC. ICA Group Wealth Management LLC purchased a new stake in shares of Generac in the 4th quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in Generac during the 4th quarter valued at about $28,000. ORG Partners LLC acquired a new position in shares of Generac in the 4th quarter valued at about $38,000. Quarry LP increased its stake in Generac by 219.6% in the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after buying an additional 202 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its position in Generac by 89.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock worth $40,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GNRC. Guggenheim cut shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target on the stock. in a report on Thursday, May 30th. Oppenheimer lowered shares of Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Truist Financial raised their price target on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Canaccord Genuity Group increased their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $149.00 price target on shares of Generac in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $141.67.

Generac Trading Down 2.7 %

Shares of GNRC opened at $132.22 on Friday. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 1.79 and a beta of 1.44. The company has a quick ratio of 0.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $156.95. The stock’s 50-day moving average price is $140.16 and its 200 day moving average price is $128.13.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm had revenue of $889.27 million for the quarter, compared to the consensus estimate of $886.60 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Generac Holdings Inc. will post 6.15 earnings per share for the current year.

Insider Activity at Generac

In other Generac news, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the sale, the insider now directly owns 19,815 shares of the company’s stock, valued at $2,889,027. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Erik Wilde sold 4,384 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $154.04, for a total transaction of $675,311.36. Following the completion of the sale, the executive vice president now owns 17,897 shares in the company, valued at approximately $2,756,853.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The disclosure for this sale can be found here. Insiders have sold a total of 80,785 shares of company stock valued at $11,688,161 over the last quarter. 2.80% of the stock is owned by company insiders.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.