MidFirst Bank Acquires Shares of 4,250 Generac Holdings Inc. $GNRC

MidFirst Bank bought a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,250 shares of the technology company’s stock, valued at approximately $1,244,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. N.E.W. Advisory Services LLC acquired a new position in shares of Generac during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Generac in the 3rd quarter worth about $26,000. Avalon Trust Co purchased a new stake in Generac during the 1st quarter worth approximately $32,000. Essential Partners LLC increased its stake in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after buying an additional 61 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of Generac during the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Trading Up 1.0%

GNRC opened at $221.55 on Tuesday. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.92. The company’s 50 day simple moving average is $237.34 and its two-hundred day simple moving average is $228.67. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44. 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 posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Generac Holdings Inc. will post 9.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. This trade represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider owned 15,508 shares in the company, valued at approximately $3,393,615.64. This represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 12,236 shares of company stock valued at $2,871,273. Insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GNRC shares. Weiss Ratings upgraded Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald increased their price objective on Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Robert W. Baird set a $305.00 price objective on Generac in a report on Thursday, July 30th. Wells Fargo & Company raised their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Argus lifted their target price on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $284.84.

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.