PNC Financial Services Group Inc. Sells 2,208 Shares of Generac Holdings Inc. (NYSE:GNRC)

PNC Financial Services Group Inc. reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,336 shares of the technology company’s stock after selling 2,208 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Generac were worth $2,111,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. ICA Group Wealth Management LLC purchased a new stake in Generac in the fourth quarter worth about $27,000. BKM Wealth Management LLC purchased a new position in shares of Generac in the 4th quarter valued at approximately $28,000. ORG Partners LLC bought a new stake in shares of Generac during the fourth quarter valued at approximately $38,000. Quarry LP grew its stake in Generac by 219.6% in the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after purchasing an additional 202 shares during the period. Finally, Pinnacle Bancorp Inc. raised its holdings in Generac by 89.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock worth $40,000 after purchasing an additional 147 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Performance

GNRC stock opened at $137.58 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $156.95. The company has a market cap of $8.34 billion, a P/E ratio of 37.90, a price-to-earnings-growth ratio of 1.89 and a beta of 1.44. The stock’s fifty day moving average price is $139.63 and its 200-day moving average price is $127.52.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The business had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts forecast that Generac Holdings Inc. will post 6.14 earnings per share for the current year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, April 1st. The shares were sold at an average price of $126.94, for a total transaction of $634,700.00. Following the transaction, the chief executive officer now owns 592,177 shares in the company, valued at approximately $75,170,948.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $126.94, for a total value of $634,700.00. Following the transaction, the chief executive officer now owns 592,177 shares of the company’s stock, valued at $75,170,948.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Erik Wilde sold 4,384 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $154.04, for a total value of $675,311.36. Following the transaction, the executive vice president now owns 17,897 shares of the company’s stock, valued at $2,756,853.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,785 shares of company stock valued at $11,688,161. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GNRC shares. Roth Mkm boosted their target price on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Canaccord Genuity Group upped their price objective on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Oppenheimer lowered shares of Generac from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $149.00 price target on shares of Generac in a research note on Thursday, May 23rd. Finally, OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. 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 company’s stock. According to data from MarketBeat.com, Generac currently has an average rating of “Hold” and a consensus target price of $141.67.

Generac 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.