M&T Bank Corp Grows Stake in Generac Holdings Inc. $GNRC

M&T Bank Corp grew its holdings in Generac Holdings Inc. (NYSE:GNRC) by 7,427.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 239,975 shares of the technology company’s stock after buying an additional 236,787 shares during the quarter. M&T Bank Corp’s holdings in Generac were worth $32,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MUFG Securities EMEA plc purchased a new stake in Generac in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Generac in the 3rd quarter worth approximately $26,000. First Horizon Corp purchased a new stake in Generac in the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC lifted its holdings in Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares during the period. Finally, Quent Capital LLC purchased a new stake in Generac in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In related news, CFO York A. Ragen sold 24,362 shares of the firm’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 transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Generac Stock Down 0.1%

Shares of NYSE:GNRC opened at $213.66 on Thursday. Generac Holdings Inc. has a 52-week low of $109.20 and a 52-week high of $241.09. The firm has a market capitalization of $12.54 billion, a P/E ratio of 79.72, a P/E/G ratio of 2.12 and a beta of 1.78. The stock has a 50 day moving average price of $210.80 and a 200-day moving average price of $179.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (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 firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted $2.80 EPS. The firm’s revenue was down 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 8.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Zacks Research upgraded Generac from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Robert W. Baird set a $292.00 target price on Generac in a research report on Thursday, February 12th. Bank of America decreased their target price on Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Needham & Company LLC reissued a “buy” rating and issued a $277.00 target price on shares of Generac in a research report on Thursday, March 26th. Finally, Roth Mkm reissued a “neutral” rating and issued a $220.00 target price on shares of Generac in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.94.

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.