Pitcairn Co. Has $2.14 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Pitcairn Co. lessened its stake in Generac Holdings Inc. (NYSE:GNRC) by 37.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,479 shares of the technology company’s stock after selling 8,233 shares during the quarter. Pitcairn Co.’s holdings in Generac were worth $2,142,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EntryPoint Capital LLC increased its stake in shares of Generac by 73.2% during the 1st 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 last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. SouthState Corp bought a new position in shares of Generac in the third quarter valued at approximately $32,000. Capital Advisors Ltd. LLC grew 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 valued at $34,000 after acquiring an additional 220 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after acquiring an additional 97 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on GNRC. Stifel Nicolaus boosted their price target on shares of Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Cowen upped their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird cut their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Citigroup raised their target price on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler boosted their price target on shares of Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.58.

Insider Buying and Selling

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock worth $7,584,853 in the last three months. 2.90% of the stock is owned by corporate insiders.

Generac Price Performance

GNRC stock opened at $189.08 on Friday. The firm has a 50-day moving average of $168.12 and a 200 day moving average of $153.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The company has a market cap of $11.25 billion, a P/E ratio of 39.23, a PEG ratio of 2.25 and a beta of 1.37. Generac Holdings Inc. has a 1 year low of $108.89 and a 1 year high of $195.94.

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

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.