Independence Bank of Kentucky Buys 640 Shares of Generac Holdings Inc. (NYSE:GNRC)

Independence Bank of Kentucky boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,895 shares of the technology company’s stock after purchasing an additional 640 shares during the quarter. Independence Bank of Kentucky’s holdings in Generac were worth $1,069,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of Generac during the 4th quarter worth $272,000. West Bancorporation Inc. acquired a new position in Generac during the 4th quarter worth $232,000. Hanson & Doremus Investment Management boosted its holdings in Generac by 4.1% during the fourth quarter. Hanson & Doremus Investment Management now owns 3,034 shares of the technology company’s stock valued at $470,000 after acquiring an additional 120 shares during the period. Smith Group Asset Management LLC acquired a new stake in shares of Generac in the fourth quarter valued at about $440,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Generac by 498.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 126,121 shares of the technology company’s stock worth $19,555,000 after purchasing an additional 105,063 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Down 2.0 %

GNRC opened at $149.27 on Friday. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.50 and a beta of 1.42. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The firm’s 50-day simple moving average is $164.75 and its 200-day simple moving average is $161.38.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. Equities research analysts anticipate that Generac Holdings Inc. will post 6.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GNRC shares. Robert W. Baird decreased their target price on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Citigroup lowered their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays began coverage on shares of Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Truist Financial cut their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Generac has an average rating of “Moderate Buy” and an average target price of $174.30.

Insider Buying and Selling at Generac

In related news, CFO York A. Ragen sold 29,081 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total value of $787,500.00. Following the completion of the transaction, the chief executive officer now owns 570,825 shares in the company, valued at $89,904,937.50. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,268 shares of company stock worth $6,744,703. 2.90% of the stock is currently owned by corporate insiders.

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.