M&T Bank Corp Acquires 236,787 Shares of Generac Holdings Inc. $GNRC

Key Points

• M&T Bank Corp boosted its stake in Generac by 236,787 shares (a 7,427.4% increase) to 239,975 shares — about 0.41% of the company, valued at roughly $32.7 million at quarter-end.
• CFO York A. Ragen sold 24,362 shares at an average $235.61 for ~$5.74 million, reducing his holding by 15.08% to 137,182 shares.
• Generac missed Q4 estimates (EPS $1.61 vs. $1.81; revenue $1.09B vs. $1.16B), with revenue down 11.6%; the stock trades at a high PE (~79.7) and carries a consensus "Moderate Buy" analyst rating with an average target of $233.94.

M&T Bank Corp boosted its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 7,427.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 239,975 shares of the technology company's stock after acquiring an additional 236,787 shares during the quarter. M&T Bank Corp owned 0.41% of Generac worth $32,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB increased its stake in Generac by 21.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 331 shares of the technology company's stock worth $55,000 after acquiring an additional 59 shares during the last quarter. Sentry Investment Management LLC increased its stake in Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock worth $28,000 after acquiring an additional 67 shares during the last quarter. ORG Partners LLC increased its stake in Generac by 24.7% in the 3rd quarter. ORG Partners LLC now owns 369 shares of the technology company's stock worth $62,000 after acquiring an additional 73 shares during the last quarter. Argent Trust Co increased its stake in Generac by 2.3% in the 3rd quarter. Argent Trust Co now owns 3,272 shares of the technology company's stock worth $548,000 after acquiring an additional 73 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Generac by 2.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,749 shares of the technology company's stock worth $460,000 after acquiring an additional 73 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer directly 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 legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by corporate insiders.

Generac Trading Down 0.1%

Shares of GNRC stock opened at $213.66 on Thursday. The stock has a market capitalization of $12.54 billion, a PE ratio of 79.72, a P/E/G ratio of 2.12 and a beta of 1.78. Generac Holdings Inc. has a 1-year low of $109.20 and a 1-year high of $241.09. The business has a 50-day moving average of $210.80 and a 200 day moving average of $179.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.20). The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. The company's revenue was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.80 earnings per share. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GNRC has been the topic of several recent research reports. Guggenheim reiterated a "neutral" rating and set a $202.00 price objective on shares of Generac in a research report on Tuesday, February 10th. Needham & Company LLC reiterated a "buy" rating and set a $277.00 price objective on shares of Generac in a research report on Thursday, March 26th. Canaccord Genuity Group increased their price objective on Generac from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, April 1st. Bank of America reduced their price objective on Generac from $260.00 to $248.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. Finally, Robert W. Baird set a $292.00 price objective on Generac in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $233.94.

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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