Bangor Savings Bank Sells 655 Shares of Generac Holdings Inc. (NYSE:GNRC)

Bangor Savings Bank lessened its holdings in Generac Holdings Inc. (NYSE:GNRC) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,170 shares of the technology company’s stock after selling 655 shares during the quarter. Bangor Savings Bank’s holdings in Generac were worth $2,662,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Trust N.A. increased its stake in Generac by 52.8% during the 3rd quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock worth $541,000 after acquiring an additional 1,177 shares during the period. Willis Investment Counsel increased its position in shares of Generac by 18.7% in the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after purchasing an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Generac by 85.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after purchasing an additional 3,244 shares during the period. Principal Financial Group Inc. raised its stake in Generac by 5.0% in the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in Generac by 54.1% during the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 4,209 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the transaction, the chief executive officer now owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the sale, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,268 shares of company stock worth $7,577,703. Company insiders own 2.90% of the company’s stock.

Generac Stock Up 0.7 %

Shares of NYSE:GNRC opened at $160.06 on Tuesday. The firm has a market cap of $9.52 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.04 and a beta of 1.42. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The business has a fifty day simple moving average of $173.70 and a 200 day simple moving average of $159.41. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $1.64 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Analysts predict that Generac Holdings Inc. will post 6.84 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Roth Mkm raised their target price on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird lowered their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Piper Sandler lifted their price target on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus upped their price objective on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Generac Profile

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.