Bank of New York Mellon Corp Cuts Stock Position in Generac Holdings Inc. $GNRC

Bank of New York Mellon Corp lessened its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,458 shares of the technology company’s stock after selling 3,951 shares during the period. Bank of New York Mellon Corp’s holdings in Generac were worth $57,712,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock valued at $309,000 after purchasing an additional 142 shares during the last quarter. Woodline Partners LP increased its stake in Generac by 40.9% during the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after purchasing an additional 1,463 shares in the last quarter. First Trust Advisors LP raised its holdings in Generac by 27.6% in the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock worth $14,507,000 after buying an additional 21,908 shares during the last quarter. Cerity Partners LLC raised its holdings in Generac by 1.6% in the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after buying an additional 816 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Generac by 8.6% in the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after buying an additional 8,213 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Activity

In other Generac news, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares in the company, valued at $4,046,848. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,100 shares of company stock worth $1,651,443 over the last three months. Insiders own 2.40% of the company’s stock.

Generac Price Performance

NYSE GNRC opened at $210.81 on Friday. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 66.08, a PEG ratio of 2.00 and a beta of 1.89. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44. 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 business’s fifty day moving average price is $257.52 and its 200-day moving average price is $222.85.

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

Wall Street Analysts Forecast Growth

GNRC has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Generac in a report on Monday. Zacks Research lowered shares of Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Finally, Argus increased their price objective on Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.44.

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.