Independence Bank of Kentucky Increases Position in Generac Holdings Inc. (NYSE:GNRC)

Independence Bank of Kentucky raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 54.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,255 shares of the technology company’s stock after buying an additional 2,195 shares during the period. Independence Bank of Kentucky’s holdings in Generac were worth $994,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC raised its stake in shares of Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after acquiring an additional 90 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after buying an additional 220 shares in the last quarter. Quarry LP raised its stake in Generac by 219.6% in the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after buying an additional 202 shares in the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in Generac in the second quarter worth about $38,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Up 4.4 %

Shares of Generac stock opened at $173.59 on Friday. The company has a market capitalization of $10.44 billion, a P/E ratio of 44.51, a P/E/G ratio of 2.22 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $175.86. The company has a 50 day moving average of $150.92 and a 200 day moving average of $144.27.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to analysts’ expectations of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. As a group, research analysts forecast that Generac Holdings Inc. will post 6.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stephens restated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a report on Monday, August 5th. Robert W. Baird increased their price target on shares of Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Stifel Nicolaus reissued a “buy” rating and issued a $175.00 price objective (up from $145.00) on shares of Generac in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Generac has a consensus rating of “Hold” and an average price target of $154.71.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

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.