Pinnacle Financial Partners Inc Boosts Stake in Generac Holdings Inc. (NYSE:GNRC)

Pinnacle Financial Partners Inc lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,446 shares of the technology company’s stock after acquiring an additional 1,826 shares during the quarter. Pinnacle Financial Partners Inc owned approximately 0.08% of Generac worth $7,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chase Investment Counsel Corp bought a new position in shares of Generac in the third quarter worth approximately $4,285,000. Barnett & Company Inc. boosted its holdings in Generac by 18.8% in the 3rd quarter. Barnett & Company Inc. now owns 21,525 shares of the technology company’s stock worth $3,420,000 after buying an additional 3,400 shares during the period. Aigen Investment Management LP purchased a new stake in Generac in the 3rd quarter worth $358,000. Meridian Management Co. raised its holdings in Generac by 1.0% during the third quarter. Meridian Management Co. now owns 33,934 shares of the technology company’s stock valued at $5,391,000 after acquiring an additional 334 shares during the period. Finally, Apollon Wealth Management LLC bought a new stake in Generac during the third quarter valued at about $202,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Citigroup increased their price objective on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird lowered their target price on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. TD Cowen upped their target price on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price target on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $169.10.

Insider Activity at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 in the last 90 days. 2.90% of the stock is owned by corporate insiders.

Generac Stock Up 0.4 %

Shares of NYSE GNRC opened at $191.04 on Thursday. Generac Holdings Inc. has a 1 year low of $106.72 and a 1 year high of $195.94. The firm has a 50-day simple moving average of $162.35 and a two-hundred day simple moving average of $151.13. The company has a market cap of $11.37 billion, a P/E ratio of 39.63, a PEG ratio of 2.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

Generac (NYSE:GNRC) last posted 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. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $1.64 EPS. Generac’s revenue was up 9.6% compared to the same quarter last year. Research 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.