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

PNC Financial Services Group Inc. raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,885 shares of the technology company’s stock after purchasing an additional 1,152 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Generac were worth $2,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Willis Investment Counsel raised its position in shares of Generac by 18.7% in the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after purchasing an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Generac by 85.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after acquiring an additional 3,244 shares during the period. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Generac in the third quarter worth $3,742,000. Versor Investments LP purchased a new position in shares of Generac in the third quarter valued at $1,823,000. Finally, Barnett & Company Inc. raised its stake in shares of Generac by 18.8% during the 3rd quarter. Barnett & Company Inc. now owns 21,525 shares of the technology company’s stock valued at $3,420,000 after purchasing an additional 3,400 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GNRC shares. Piper Sandler lifted their target price on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity Group upped their target price on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial boosted their price target on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Cowen increased their price objective on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.58.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 29,081 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. 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 over the last three months. 2.90% of the stock is owned by company insiders.

Generac Stock Up 1.3 %

Shares of NYSE:GNRC opened at $191.58 on Tuesday. The stock has a market capitalization of $11.40 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37. The stock’s 50-day moving average price is $168.12 and its 200-day moving average price is $153.67. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $1.64 EPS. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Generac Holdings Inc. will post 6.8 earnings per share for the current year.

About Generac

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.