Comerica Bank Has $1.90 Million Stake in Generac Holdings Inc. $GNRC

Key Points

• Comerica Bank cut its stake in Generac by 49.5%, selling 13,672 shares and ending the quarter with 13,955 shares worth about $1.90 million.
• Generac CFO York A. Ragen sold 24,362 shares for roughly $5.74 million, reducing his position by 15.08%; company insiders now own about 2.70% of the stock.
• Generac beat quarterly estimates with $1.80 EPS vs. $1.33 and revenue of $1.06 billion (up 12.5% YoY), and analysts hold a "Moderate Buy" consensus with an average price target of $270.31.

Comerica Bank decreased its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 49.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,955 shares of the technology company's stock after selling 13,672 shares during the period. Comerica Bank's holdings in Generac were worth $1,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its stake in Generac by 19.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,060 shares of the technology company's stock worth $1,917,000 after purchasing an additional 2,314 shares during the period. Quent Capital LLC lifted its position in Generac by 836.2% in the 4th quarter. Quent Capital LLC now owns 2,303 shares of the technology company's stock worth $314,000 after buying an additional 2,057 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in Generac by 3.9% in the 4th quarter. Resonant Capital Advisors LLC now owns 2,927 shares of the technology company's stock worth $399,000 after buying an additional 110 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Generac in the 4th quarter worth approximately $423,000. Finally, Paradice Investment Management LLC lifted its position in Generac by 16.9% in the 4th quarter. Paradice Investment Management LLC now owns 211,861 shares of the technology company's stock worth $28,891,000 after buying an additional 30,578 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. This represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Generac Stock Performance

Shares of GNRC opened at $267.65 on Thursday. The company's fifty day moving average is $213.02 and its 200-day moving average is $182.77. Generac Holdings Inc. has a 12 month low of $113.96 and a 12 month high of $269.26. The firm has a market cap of $15.74 billion, a price-to-earnings ratio of 83.90, a price-to-earnings-growth ratio of 2.50 and a beta of 1.93. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Generac's quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts expect that Generac Holdings Inc. will post 8.79 EPS for the current fiscal year.

Analyst Ratings Changes

GNRC has been the subject of a number of research analyst reports. Argus increased their target price on shares of Generac from $255.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Jefferies Financial Group initiated coverage on shares of Generac in a research report on Friday, March 20th. They issued a "hold" rating and a $222.00 target price for the company. Canaccord Genuity Group increased their target price on shares of Generac from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Guggenheim reiterated a "neutral" rating and issued a $202.00 target price on shares of Generac in a research report on Tuesday, February 10th. Finally, Robert W. Baird set a $311.00 target price on shares of Generac in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $270.31.

About Generac

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.

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