Generac Holdings Inc. (NYSE:GNRC) Position Boosted by Comerica Bank (2024)

Comerica Bank grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 32.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,594 shares of the technology company’s stock after acquiring an additional 7,532 shares during the quarter. Comerica Bank owned about 0.05% of Generac worth $3,859,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GNRC. Capital World Investors acquired a new position in shares of Generac in the 4th quarter worth approximately $155,707,000. Norges Bank bought a new stake in shares of Generac during the 4th quarter worth $67,253,000. Wellington Management Group LLP boosted its position in shares of Generac by 432.9% in the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after purchasing an additional 318,664 shares during the period. DAVENPORT & Co LLC increased its stake in Generac by 831.1% in the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after purchasing an additional 214,322 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Generac during the fourth quarter valued at about $17,956,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Activity

In other news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total value of $9,601,659.00. Following the sale, the insider now owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the completion of the sale, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the transaction, the insider now owns 19,815 shares in the company, valued at approximately $2,889,027. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,785 shares of company stock worth $11,020,661. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Cowen raised their target price on Generac from $144.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Canaccord Genuity Group lifted their target price on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler increased their price target on shares of Generac from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Stephens reiterated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $154.71.

Get Our Latest Stock Report on Generac

Generac Stock Performance

NYSE GNRC traded up $0.51 during trading on Tuesday, hitting $142.80. The company’s stock had a trading volume of 81,464 shares, compared to its average volume of 1,003,899. Generac Holdings Inc. has a 52 week low of $79.86 and a 52 week high of $169.57. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8.66 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. The firm has a 50 day moving average price of $144.91 and a 200 day moving average price of $132.44.

Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Equities research analysts forecast that Generac Holdings Inc. will post 6.3 earnings per share for the current fiscal year.

Generac Company Profile

(Free Report)

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.

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