PNC Financial Services Group Inc. Buys 1,152 Shares of Generac Holdings Inc. (NYSE:GNRC)

PNC Financial Services Group Inc. raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,885 shares of the technology company’s stock after acquiring an additional 1,152 shares during the period. PNC Financial Services Group Inc.’s holdings in Generac were worth $2,206,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC grew its stake in Generac by 73.2% in the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the period. Sunbelt Securities Inc. grew its position in shares of 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 buying an additional 100 shares during the period. SouthState Corp purchased a new position in Generac during the 3rd quarter valued at about $32,000. Capital Advisors Ltd. LLC boosted its stake in Generac by 611.1% during the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after acquiring an additional 220 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Generac by 73.5% in the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of NYSE:GNRC opened at $191.58 on Tuesday. The firm’s 50 day moving average price is $168.12 and its 200-day moving average price is $153.67. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $11.40 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37. Generac Holdings Inc. has a twelve month low of $108.89 and a twelve month high of $195.94.

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

Insider Activity

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GNRC. Canaccord Genuity Group boosted their price target on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Northland Securities upped their price target on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm lifted their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Stephens reiterated an “overweight” rating and set a $200.00 price target on shares of Generac in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $174.58.

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.