Bank of New York Mellon Corp Sells 3,951 Shares of Generac Holdings Inc. $GNRC

Bank of New York Mellon Corp trimmed its stake in Generac Holdings Inc. (NYSE:GNRC) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,458 shares of the technology company’s stock after selling 3,951 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.50% of Generac worth $57,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MUFG Securities EMEA plc bought a new stake in shares of Generac in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the 3rd quarter worth $26,000. GHP Investment Advisors Inc. bought a new position in shares of Generac during the 1st quarter worth $36,000. Root Financial Partners LLC increased its holdings in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 54 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Generac by 33.8% in the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock worth $59,000 after acquiring an additional 110 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Roth Capital reiterated a “neutral” rating and issued a $257.00 price objective on shares of Generac in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Stephens reiterated an “overweight” rating and issued a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. Finally, Robert W. Baird set a $311.00 price objective on Generac in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average target price of $286.44.

Generac Stock Down 1.2%

Shares of GNRC opened at $210.81 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The firm has a market cap of $12.41 billion, a P/E ratio of 66.08, a P/E/G ratio of 2.00 and a beta of 1.89. The stock has a 50 day simple moving average of $257.52 and a two-hundred day simple moving average of $222.85. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. On average, analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the sale, the insider directly owned 15,808 shares of the company’s stock, valued at $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,100 shares of company stock valued at $1,651,443. Insiders own 2.40% of the company’s stock.

Generac Company Profile

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.