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

Bangor Savings Bank reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,170 shares of the technology company’s stock after selling 655 shares during the period. Bangor Savings Bank’s holdings in Generac were worth $2,662,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GNRC. Natixis Advisors LLC bought a new stake in shares of Generac in the 2nd quarter valued at about $1,921,000. TD Asset Management Inc increased its stake in Generac by 3.5% in the second quarter. TD Asset Management Inc now owns 11,478 shares of the technology company’s stock valued at $1,518,000 after purchasing an additional 390 shares in the last quarter. National Bank of Canada FI raised its holdings in Generac by 80.4% in the second quarter. National Bank of Canada FI now owns 30,918 shares of the technology company’s stock worth $4,118,000 after purchasing an additional 13,784 shares during the period. Savant Capital LLC boosted its position in shares of Generac by 1.0% during the second quarter. Savant Capital LLC now owns 10,772 shares of the technology company’s stock worth $1,424,000 after purchasing an additional 110 shares in the last quarter. Finally, X Square Capital LLC grew its holdings in shares of Generac by 0.8% in the 2nd quarter. X Square Capital LLC now owns 13,454 shares of the technology company’s stock valued at $1,779,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,577,703 over the last 90 days. 2.90% of the stock is currently owned by insiders.

Generac Trading Up 0.7 %

NYSE GNRC opened at $160.06 on Tuesday. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $173.70 and a 200-day moving average of $159.41. The company has a market cap of $9.52 billion, a PE ratio of 33.21, a PEG ratio of 2.04 and a beta of 1.42.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 earnings per share. On average, equities research analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GNRC has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Robert W. Baird cut their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Truist Financial boosted their price objective on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Citigroup raised their target price on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler upped their price target on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.