Moody National Bank Trust Division Invests $2.27 Million in Generac Holdings Inc. $GNRC

Key Points

• Moody National Bank Trust Division initiated a $2.27 million position in Generac, purchasing 7,742 shares during the second quarter. Institutional investors collectively own 84.04% of the company.
• Generac reported quarterly EPS of $2.91, beating consensus estimates of $2.01, while revenue rose 10.3% year over year to $1.17 billion, slightly below expectations.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $284.84; however, company insiders sold 11,100 shares worth about $2.63 million during the quarter.

Moody National Bank Trust Division purchased a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,742 shares of the technology company's stock, valued at approximately $2,267,000.

Other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Generac by 49.9% in the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock worth $330,557,000 after acquiring an additional 806,430 shares during the period. Diamant Asset Management Inc. grew its position in shares of Generac by 19,433.0% during the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company's stock valued at $130,104,000 after acquiring an additional 662,665 shares during the period. Bank of Montreal Can increased its stake in shares of Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock worth $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company's stock worth $130,825,000 after purchasing an additional 536,732 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Generac in the 4th quarter worth approximately $68,590,000. Institutional investors own 84.04% of the company's stock.

Generac Stock Up 8.9%

GNRC opened at $219.03 on Wednesday. The company has a 50 day moving average of $248.10 and a 200 day moving average of $225.57. The company has a market cap of $12.89 billion, a PE ratio of 50.47, a price-to-earnings-growth ratio of 1.74 and a beta of 1.92. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.90. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. Generac's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 EPS. On average, sell-side analysts expect that Generac Holdings Inc. will post 9.63 EPS for the current year.

Insider Buying and Selling at Generac

In related news, insider Norman P. Taffe sold 550 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the sale, the insider owned 15,808 shares of the company's stock, valued at approximately $4,046,848. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company's stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 11,100 shares of company stock valued at $2,625,893. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GNRC has been the topic of several research analyst reports. DA Davidson set a $333.00 price objective on Generac in a research note on Thursday, July 30th. Stifel Nicolaus boosted their target price on Generac from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Needham & Company LLC boosted their target price on Generac from $282.00 to $283.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Cantor Fitzgerald upped their price target on Generac from $325.00 to $333.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price objective on Generac from $238.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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