MidFirst Bank Invests $1.24 Million in Generac Holdings Inc. $GNRC

MidFirst Bank acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,250 shares of the technology company’s stock, valued at approximately $1,244,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in Generac by 42.8% in the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock worth $12,711,000 after buying an additional 27,893 shares during the period. Patton Fund Management Inc. purchased a new position in Generac during the 1st quarter worth approximately $3,797,000. Needham Investment Management LLC lifted its stake in Generac by 213.6% during the 4th quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock valued at $4,705,000 after acquiring an additional 23,500 shares during the period. Paradice Investment Management LLC lifted its stake in Generac by 16.9% during the 4th quarter. Paradice Investment Management LLC now owns 211,861 shares of the technology company’s stock valued at $28,891,000 after acquiring an additional 30,578 shares during the period. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Generac in the 4th quarter valued at $699,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

GNRC opened at $221.55 on Tuesday. The firm has a fifty day moving average price of $237.34 and a 200 day moving average price of $228.67. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The stock has a market cap of $13.07 billion, a P/E ratio of 51.05, a P/E/G ratio of 1.88 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.65 earnings per share. Equities research analysts anticipate that Generac Holdings Inc. will post 9.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. Roth Capital set a $214.00 price target on Generac in a research report on Thursday, July 30th. Citigroup increased their price target on Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. DA Davidson set a $333.00 price objective on Generac in a report on Thursday, July 30th. Finally, Barclays decreased their price objective on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.84.

Insider Activity

In related news, insider Kyle Andrew Raabe sold 586 shares of Generac stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the transaction, the insider owned 10,746 shares in the company, valued at $2,292,659.10. The trade was a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the transaction, the insider directly owned 15,508 shares of the company’s stock, valued at $3,393,615.64. The trade was a 3.43% 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 have sold 12,236 shares of company stock worth $2,871,273 in the last ninety days. Company insiders own 2.40% of the company’s stock.

Generac 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.