Bangor Savings Bank Has $2.83 Million Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Bangor Savings Bank lessened its holdings in Generac Holdings Inc. (NYSE:GNRC) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,825 shares of the technology company’s stock after selling 896 shares during the period. Bangor Savings Bank’s holdings in Generac were worth $2,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. DAVENPORT & Co LLC grew its holdings in shares of Generac by 831.1% during the first 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 during the last quarter. Kampmann Melissa S. bought a new stake in Generac during the 4th quarter worth approximately $750,000. Epoch Investment Partners Inc. acquired a new position in Generac in the 1st quarter valued at approximately $1,053,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Generac during the first quarter valued at $476,000. Finally, Nwam LLC lifted its holdings in shares of Generac by 135.8% during the first quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock worth $768,000 after purchasing an additional 3,242 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Trading Up 8.5 %

Shares of Generac stock opened at $173.84 on Tuesday. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $175.69. The company’s fifty day simple moving average is $149.25 and its 200-day simple moving average is $143.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The stock has a market capitalization of $10.54 billion, a PE ratio of 47.89, a P/E/G ratio of 1.88 and a beta of 1.38.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. Generac’s revenue for the quarter was down .2% on a year-over-year basis. As a group, equities analysts anticipate that Generac Holdings Inc. will post 6.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com lowered Generac from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Robert W. Baird increased their target price on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price target on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Janney Montgomery Scott lowered shares of Generac from a “buy” rating to a “neutral” rating and boosted their target price for the company from $126.00 to $154.00 in a report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $154.71.

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.