MidFirst Bank Takes Position in Generac Holdings Inc. $GNRC

MidFirst Bank purchased a new position in Generac Holdings Inc. (NYSE:GNRC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,250 shares of the technology company’s stock, valued at approximately $580,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GNRC. Invesco Ltd. boosted its stake in Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after buying an additional 806,430 shares during the last quarter. Bank of Montreal Can grew its holdings in Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Generac by 127.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock valued at $130,825,000 after buying an additional 536,732 shares during the last quarter. Norges Bank purchased a new stake in Generac in the fourth quarter worth $68,590,000. Finally, Robeco Schweiz AG purchased a new position in Generac in the 4th quarter worth about $51,020,000. Institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In other Generac news, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction 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 transaction, the insider owned 16,108 shares of the company’s stock, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.40% of the company’s stock.

Generac Stock Down 0.0%

Shares of GNRC opened at $279.09 on Friday. The stock has a 50 day moving average price of $251.44 and a 200 day moving average price of $205.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 87.49, a PEG ratio of 2.61 and a beta of 1.93. Generac Holdings Inc. has a one year low of $125.80 and a one year high of $294.18.

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 the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 EPS. Equities research analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on GNRC. Canaccord Genuity Group raised their price objective on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Robert W. Baird set a $311.00 price objective on shares of Generac in a research note on Thursday, April 30th. Bank of America cut their price objective on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Weiss Ratings downgraded Generac from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, Zacks Research lowered shares of Generac from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.65.

Generac Company 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.