PNC Financial Services Group Inc. Lowers Stock Holdings in Generac Holdings Inc. $GNRC

PNC Financial Services Group Inc. lowered its holdings in Generac Holdings Inc. (NYSE:GNRC) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,534 shares of the technology company’s stock after selling 1,927 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Generac were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrity Alliance LLC. purchased a new stake in shares of Generac during the 1st quarter valued at about $299,000. Amundi increased its holdings in Generac by 8.2% during the first quarter. Amundi now owns 105,038 shares of the technology company’s stock valued at $12,147,000 after buying an additional 7,923 shares during the last quarter. Epoch Investment Partners Inc. grew its position in shares of Generac by 169.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 20,423 shares of the technology company’s stock valued at $2,587,000 after acquiring an additional 12,833 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Generac by 30.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60,007 shares of the technology company’s stock valued at $7,600,000 after acquiring an additional 13,842 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Generac in the 1st quarter worth $23,375,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on Generac from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Generac from $180.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. UBS Group decreased their price target on Generac from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and issued a $240.00 price objective on shares of Generac in a research report on Thursday, October 30th. Finally, Zacks Research cut Generac from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.06.

Generac Trading Up 3.4%

Shares of Generac stock opened at $147.31 on Thursday. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company has a quick ratio of 0.88, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $172.08 and a 200-day moving average price of $160.12. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.53 and a beta of 1.69.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.20 billion. Generac had a net margin of 6.92% and a return on equity of 17.63%. Generac’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. Generac has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total value of $832,150.00. Following the completion of the transaction, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 15,000 shares of company stock worth $2,575,300. 2.70% of the stock is currently owned by corporate insiders.

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.