Bangor Savings Bank Trims Stake in Generac Holdings Inc. (NYSE:GNRC)

Bangor Savings Bank trimmed its stake in Generac Holdings Inc. (NYSE:GNRC) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,280 shares of the technology company’s stock after selling 890 shares during the period. Bangor Savings Bank’s holdings in Generac were worth $2,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Generac by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company’s stock worth $1,053,650,000 after buying an additional 47,450 shares in the last quarter. Boston Partners increased its stake in Generac by 39.0% in the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock worth $295,123,000 after buying an additional 533,612 shares in the last quarter. Geode Capital Management LLC increased its stake in Generac by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,441,772 shares of the technology company’s stock worth $223,293,000 after buying an additional 14,844 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Generac by 81.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after buying an additional 469,575 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Generac by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company’s stock worth $112,961,000 after buying an additional 16,954 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on GNRC shares. Wells Fargo & Company dropped their price objective on shares of Generac from $165.00 to $128.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Canaccord Genuity Group dropped their price objective on shares of Generac from $200.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $162.00 to $138.00 in a report on Thursday, April 17th. Janney Montgomery Scott raised shares of Generac from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, Guggenheim raised shares of Generac from a “sell” rating to a “neutral” rating in a report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.37.

Generac Stock Up 1.3%

Shares of NYSE:GNRC opened at $127.95 on Friday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The stock has a market cap of $7.56 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.70. The business’s 50 day moving average is $118.17 and its 200 day moving average is $140.66. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The company had revenue of $942.12 million for the quarter, compared to analysts’ expectations of $921.78 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Generac’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

About Generac

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.