Independence Bank of Kentucky Acquires 3,379 Shares of Generac Holdings Inc. $GNRC

Independence Bank of Kentucky lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,463 shares of the technology company’s stock after buying an additional 3,379 shares during the quarter. Independence Bank of Kentucky’s holdings in Generac were worth $2,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. MUFG Securities EMEA plc bought a new position in Generac during the second quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Generac in the third quarter worth $26,000. First Horizon Corp bought a new stake in Generac in the third quarter valued at $28,000. Sentry Investment Management LLC raised its holdings in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of Generac during the third quarter valued at about $41,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Generac Stock Down 0.0%

Generac stock opened at $194.07 on Friday. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 72.41, a price-to-earnings-growth ratio of 1.38 and a beta of 1.78. The firm’s fifty day moving average price is $203.25 and its two-hundred day moving average price is $176.00. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $241.09. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $2.80 earnings per share. The company’s revenue was down 11.6% on a year-over-year basis. On average, equities research analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analyst Ratings Changes

GNRC has been the topic of a number of research analyst reports. Citigroup cut shares of Generac from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $207.00 to $237.00 in a research report on Thursday, March 12th. Canaccord Genuity Group boosted their target price on Generac from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus set a $235.00 price target on Generac in a research note on Thursday, February 12th. Bank of America cut their price target on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, Barclays boosted their price objective on Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and a consensus price target of $229.94.

About Generac

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.