Commerce Bank Makes New $217,000 Investment in Generac Holdings Inc. (NYSE:GNRC)

Commerce Bank purchased a new position in Generac Holdings Inc. (NYSE:GNRC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,366 shares of the technology company’s stock, valued at approximately $217,000.

A number of other institutional investors have also recently bought and sold shares of GNRC. EntryPoint Capital LLC increased its stake in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. SouthState Corp purchased a new position in Generac in the 3rd quarter worth about $32,000. Capital Advisors Ltd. LLC increased its stake in Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after purchasing an additional 220 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Generac by 73.5% in the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Down 1.0 %

GNRC opened at $190.40 on Thursday. The business has a 50 day moving average price of $170.09 and a 200 day moving average price of $154.43. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The firm has a market cap of $11.33 billion, a P/E ratio of 39.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $1.64 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GNRC shares. Piper Sandler lifted their price target on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Robert W. Baird lowered their target price on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Citigroup lifted their target price on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, TD Cowen lifted their target price on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.58.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by insiders.

Generac Company 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.