Independence Bank of Kentucky Purchases 7,381 Shares of Generac Holdings Inc. (NYSE:GNRC)

Independence Bank of Kentucky boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 107.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,276 shares of the technology company's stock after purchasing an additional 7,381 shares during the quarter. Independence Bank of Kentucky's holdings in Generac were worth $1,808,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GNRC. Hurley Capital LLC bought a new position in shares of Generac in the fourth quarter worth $26,000. Bank of Jackson Hole Trust bought a new position in Generac during the fourth quarter valued at about $31,000. Quadrant Capital Group LLC grew its holdings in Generac by 61.7% during the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock worth $35,000 after acquiring an additional 87 shares during the period. Spire Wealth Management grew its holdings in Generac by 203.6% during the fourth quarter. Spire Wealth Management now owns 252 shares of the technology company's stock worth $39,000 after acquiring an additional 169 shares during the period. Finally, Venturi Wealth Management LLC raised its position in Generac by 42.0% in the fourth quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company's stock worth $44,000 after acquiring an additional 84 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GNRC. Piper Sandler dropped their target price on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. TD Securities lowered their price target on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group dropped their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Guggenheim upgraded shares of Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Finally, Bank of America initiated coverage on Generac in a research report on Monday, March 24th. They set a "buy" rating and a $182.00 target price for the company. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Generac presently has an average rating of "Moderate Buy" and a consensus target price of $168.37.

Generac Stock Performance

NYSE GNRC traded up $2.17 during midday trading on Tuesday, hitting $130.63. The company had a trading volume of 820,634 shares, compared to its average volume of 844,558. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.44 and a beta of 1.70. The firm has a fifty day simple moving average of $118.48 and a two-hundred day simple moving average of $139.87.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.27. The company had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. Generac had a return on equity of 18.17% and a net margin of 7.36%. Generac's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. Equities analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal 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.