Pinnacle Financial Partners Inc Buys 3,530 Shares of Generac Holdings Inc. $GNRC

Pinnacle Financial Partners Inc grew its stake in Generac Holdings Inc. (NYSE:GNRC) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,081 shares of the technology company’s stock after acquiring an additional 3,530 shares during the period. Pinnacle Financial Partners Inc’s holdings in Generac were worth $9,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GNRC. First Horizon Corp acquired a new stake in shares of Generac in the third quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its position in Generac by 81.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock valued at $25,000 after buying an additional 77 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Generac in the 2nd quarter valued at $25,000. Creative Capital Management Investments LLC increased its stake in shares of Generac by 740.7% in the 2nd quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock valued at $33,000 after buying an additional 200 shares during the period. Finally, Quent Capital LLC bought a new stake in shares of Generac during the third quarter worth $41,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America cut their price target on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Needham & Company LLC assumed coverage on shares of Generac in a research note on Monday, January 12th. They issued a “buy” rating and a $211.00 target price on the stock. Robert W. Baird upgraded shares of Generac from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $215.00 to $199.00 in a research report on Friday, January 9th. Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price target for the company in a research note on Thursday, January 8th. Finally, Barclays raised their price objective on shares of Generac from $188.00 to $197.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.94.

Generac Stock Down 0.3%

Shares of NYSE GNRC opened at $160.99 on Friday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.18. The stock has a market cap of $9.45 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.32 and a beta of 1.82. The firm has a 50 day moving average price of $150.25 and a 200 day moving average price of $166.53.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.42). Generac had a return on equity of 17.63% and a net margin of 6.92%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $2.25 earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $166.43, for a total transaction of $832,150.00. Following the transaction, the chief executive officer directly owned 542,966 shares in the company, valued at approximately $90,365,831.38. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.70% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.