MidFirst Bank Buys New Position in Generac Holdings Inc. $GNRC

MidFirst Bank acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, Holdings Channel reports. The firm acquired 4,250 shares of the technology company’s stock, valued at approximately $580,000.

Other large investors also recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new position in shares of Generac during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac during the third quarter worth about $26,000. IFP Advisors Inc increased its position in Generac by 33.8% during the fourth quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock worth $59,000 after buying an additional 110 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Generac in the 4th quarter valued at $61,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Generac in the third quarter valued at about $67,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Down 0.0%

Shares of Generac stock opened at $279.09 on Friday. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a twelve month low of $125.80 and a twelve month high of $294.18. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 87.49, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. The company has a fifty day moving average price of $251.44 and a 200 day moving average price of $205.86.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $1.26 EPS. The company’s revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the sale, the insider directly owned 16,108 shares of the company’s stock, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GNRC. Barclays upped their price target on Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, March 27th. Wells Fargo & Company lifted their price target on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Zacks Research lowered shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings lowered Generac from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, UBS Group raised their price target on shares of Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and an average target price of $278.65.

Generac Company 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.