Bangor Savings Bank Sells 15,384 Shares of Generac Holdings Inc. $GNRC

Key Points

• Bangor Savings Bank significantly reduced its stake in Generac Holdings Inc. by 94.5%, selling 15,384 shares and leaving it with only 896 shares valued at $128,000.
• Generac's recent earnings report showed a profit of $1.65 per share, exceeding analysts' expectations, with revenue of $1.06 billion for the quarter, up 6.3% year-over-year.
• Several research analysts including TD Cowen and Wells Fargo have raised their price targets for Generac, indicating a positive outlook with a consensus price target of $174.56.

Bangor Savings Bank cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 94.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 896 shares of the technology company's stock after selling 15,384 shares during the period. Bangor Savings Bank's holdings in Generac were worth $128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Generac by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,932,913 shares of the technology company's stock worth $878,053,000 after purchasing an additional 137,363 shares in the last quarter. Ariel Investments LLC boosted its stake in shares of Generac by 10.1% in the 1st quarter. Ariel Investments LLC now owns 1,615,878 shares of the technology company's stock worth $204,651,000 after buying an additional 148,551 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Generac by 25.3% in the first quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock valued at $179,148,000 after acquiring an additional 285,388 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Generac by 18.0% during the first quarter. Dimensional Fund Advisors LP now owns 859,999 shares of the technology company's stock valued at $108,914,000 after acquiring an additional 131,460 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in Generac by 9.0% during the first quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock worth $102,873,000 after acquiring an additional 67,180 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Generac Trading Down 1.7%

Shares of Generac stock opened at $184.70 on Monday. The company's 50-day moving average price is $176.95 and its 200-day moving average price is $143.31. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $203.25. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.48 and a beta of 1.63.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.32. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. Generac's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 EPS. Generac has set its FY 2025 guidance at EPS. On average, equities analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on GNRC shares. TD Cowen upped their price objective on Generac from $155.00 to $198.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company lifted their price objective on shares of Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Barclays set a $200.00 price target on shares of Generac and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Citigroup reiterated a "neutral" rating and issued a $219.00 price objective (up previously from $138.00) on shares of Generac in a research note on Tuesday, August 26th. Finally, Roth Capital raised their target price on Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Generac presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.56.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total value of $906,050.00. Following the transaction, the chief executive officer directly owned 552,966 shares in the company, valued at $100,202,968.86. This represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Generac Company 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.

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