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

Independence Bank of Kentucky boosted its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,895 shares of the technology company’s stock after purchasing an additional 640 shares during the period. Independence Bank of Kentucky’s holdings in Generac were worth $1,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNRC. Heck Capital Advisors LLC purchased a new stake in shares of Generac during the fourth quarter worth about $272,000. West Bancorporation Inc. acquired a new stake in Generac during the 4th quarter valued at approximately $232,000. Hanson & Doremus Investment Management increased its holdings in Generac by 4.1% during the 4th quarter. Hanson & Doremus Investment Management now owns 3,034 shares of the technology company’s stock worth $470,000 after purchasing an additional 120 shares during the last quarter. Smith Group Asset Management LLC acquired a new position in shares of Generac in the 4th quarter valued at approximately $440,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Generac by 498.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 126,121 shares of the technology company’s stock worth $19,555,000 after buying an additional 105,063 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling at Generac

In other news, CFO York A. Ragen sold 29,081 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the sale, the chief executive officer now owns 570,825 shares of the company’s stock, valued at approximately $89,904,937.50. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,268 shares of company stock valued at $6,744,703 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GNRC. The Goldman Sachs Group raised their price objective on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup lowered their price target on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Truist Financial reduced their price objective on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.30.

Generac Trading Down 2.0 %

Generac stock opened at $149.27 on Friday. The company has a 50 day moving average price of $164.75 and a 200 day moving average price of $161.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. Generac Holdings Inc. has a 52 week low of $108.89 and a 52 week high of $195.94. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 1.50 and a beta of 1.42.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. Research analysts forecast that Generac Holdings Inc. will post 6.91 EPS for the current year.

Generac 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.