Comerica Bank Buys 5,898 Shares of Generac Holdings Inc. $GNRC

Key Points

• Comerica Bank increased its stake in Generac Holdings Inc. by 21.4% during the first quarter, bringing its total holdings to 33,411 shares valued at approximately $4.23 million.
• Several institutional investors, including Invesco Ltd. and DAVENPORT & Co LLC, also significantly boosted their positions in Generac, reflecting strong interest in the company's performance.
• Generac reported earnings of $1.65 EPS for the last quarter, exceeding estimates, with revenue increasing by 6.3% year-over-year to $1.06 billion.

Comerica Bank increased its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 21.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,411 shares of the technology company's stock after purchasing an additional 5,898 shares during the quarter. Comerica Bank owned approximately 0.06% of Generac worth $4,231,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Generac in the 1st quarter valued at about $28,000. Private Trust Co. NA raised its holdings in Generac by 42.9% in the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock valued at $38,000 after acquiring an additional 90 shares during the period. Colonial Trust Advisors raised its holdings in Generac by 357.1% in the 1st quarter. Colonial Trust Advisors now owns 320 shares of the technology company's stock valued at $41,000 after acquiring an additional 250 shares during the period. New Age Alpha Advisors LLC bought a new position in Generac in the 1st quarter valued at about $54,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Generac by 1,525.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 585 shares of the technology company's stock valued at $74,000 after acquiring an additional 549 shares during the period. 84.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GNRC shares. UBS Group reissued a "buy" rating and issued a $220.00 price target (up from $200.00) on shares of Generac in a report on Thursday, July 31st. Stifel Nicolaus raised their target price on shares of Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Roth Capital raised their target price on shares of Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Stephens reaffirmed an "overweight" rating and set a $175.00 target price on shares of Generac in a report on Tuesday, May 27th. Finally, Janney Montgomery Scott raised shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Generac currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.56.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the sale, the chief executive officer owned 562,966 shares in the company, valued at approximately $80,166,358.40. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company's stock.

Generac Price Performance

Shares of NYSE GNRC traded down $3.88 during trading hours on Wednesday, hitting $175.63. 363,894 shares of the stock were exchanged, compared to its average volume of 928,999. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00. The company has a market cap of $10.31 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.63. The company's fifty day simple moving average is $171.20 and its two-hundred day simple moving average is $140.96. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. Generac has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

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.