First Nebraska Trust Co Acquires Shares of 36,825 Generac Holdings Inc. $GNRC

Key Points

• First Nebraska Trust Co acquired 36,825 Generac shares worth approximately $10.8 million, representing about 0.06% of GNRC and 0.9% of the fund’s holdings. Institutional investors collectively own 84.04% of the company.
• Generac reported quarterly EPS of $2.91, beating the $2.01 analyst consensus, while revenue reached $1.17 billion and rose 10.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $284.84.
• Generac shares opened at $206.51, well below their 52-week high of $296.44. Company insiders sold 12,236 shares worth $2.87 million in the latest quarter, with insiders owning 2.40% of the stock.

First Nebraska Trust Co bought a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,825 shares of the technology company's stock, valued at approximately $10,783,000. Generac comprises approximately 0.9% of First Nebraska Trust Co's holdings, making the stock its 26th largest holding. First Nebraska Trust Co owned approximately 0.06% of Generac as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia purchased a new stake in shares of Generac during the second quarter valued at approximately $757,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Generac during the second quarter valued at approximately $398,000. Commerce Bank purchased a new position in Generac in the 2nd quarter worth approximately $225,000. Northwestern Mutual Wealth Management Co. purchased a new position in Generac in the 2nd quarter worth approximately $3,607,000. Finally, Quantbot Technologies LP bought a new position in Generac in the 2nd quarter valued at approximately $621,000. Institutional investors own 84.04% of the company's stock.

Insider Activity

In related news, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares in the company, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the sale, the insider directly owned 10,746 shares of the company's stock, valued at approximately $2,292,659.10. This represents a 5.17% 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. Insiders sold 12,236 shares of company stock valued at $2,871,273 in the last quarter. 2.40% of the stock is currently owned by insiders.

Generac Stock Performance

Shares of GNRC opened at $206.51 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The firm has a market capitalization of $12.19 billion, a P/E ratio of 47.58, a PEG ratio of 1.75 and a beta of 1.92. The business has a fifty day moving average of $233.63 and a 200 day moving average of $229.33.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.90. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.Generac's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 9.78 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on GNRC shares. Robert W. Baird set a $305.00 target price on Generac in a research note on Thursday, July 30th. Stifel Nicolaus boosted their price target on Generac from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Roth Capital set a $214.00 price target on Generac in a report on Thursday, July 30th. Citigroup increased their price objective on Generac from $263.00 to $300.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. Finally, Stephens reiterated an "overweight" rating and issued a $290.00 price objective on shares of Generac in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Generac has a consensus rating of "Moderate Buy" and an average target price of $284.84.

Generac 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.

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