Independence Bank of Kentucky Purchases 3,379 Shares of Generac Holdings Inc. $GNRC

Independence Bank of Kentucky lifted its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,463 shares of the technology company’s stock after acquiring an additional 3,379 shares during the quarter. Independence Bank of Kentucky’s holdings in Generac were worth $2,518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. DAVENPORT & Co LLC increased its stake in shares of Generac by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after buying an additional 16,229 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Generac during the 3rd quarter worth approximately $70,744,000. Strs Ohio grew its holdings in Generac by 583.4% during the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock worth $9,725,000 after acquiring an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Generac by 2.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock worth $100,031,000 after acquiring an additional 15,280 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Generac by 30.5% in the 3rd quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company’s stock valued at $14,501,000 after acquiring an additional 20,270 shares during the period. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target for the company in a research note on Monday, December 8th. Wells Fargo & Company increased their price objective on Generac from $234.00 to $238.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Guggenheim reaffirmed a “neutral” rating and set a $202.00 target price on shares of Generac in a research report on Tuesday, February 10th. Robert W. Baird set a $292.00 target price on Generac in a report on Thursday, February 12th. Finally, Barclays increased their price target on Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus target price of $229.94.

Generac Trading Down 0.0%

GNRC opened at $194.07 on Friday. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $241.09. The company has a fifty day moving average of $203.25 and a 200-day moving average of $176.00. The stock has a market cap of $11.39 billion, a PE ratio of 72.41, a price-to-earnings-growth ratio of 1.38 and a beta of 1.78. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last released 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 net margin of 3.79% and a return on equity of 14.55%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $2.80 EPS. Generac’s quarterly revenue was down 11.6% on a year-over-year basis. On average, sell-side analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Activity

In other news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is owned by corporate insiders.

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.