Bank of New York Mellon Corp Sells 9,010 Shares of Generac Holdings Inc. (NYSE:GNRC)

Bank of New York Mellon Corp trimmed its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,849 shares of the technology company's stock after selling 9,010 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of Generac worth $46,968,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hurley Capital LLC bought a new position in shares of Generac in the fourth quarter worth approximately $26,000. Quadrant Capital Group LLC increased its position in shares of Generac by 61.7% in the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock worth $35,000 after purchasing an additional 87 shares during the last quarter. Private Trust Co. NA grew its position in Generac by 42.9% during the first quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock valued at $38,000 after acquiring an additional 90 shares during the last quarter. Ostrum Asset Management bought a new position in Generac during the fourth quarter valued at approximately $50,000. Finally, Intact Investment Management Inc. bought a new position in Generac during the first quarter valued at approximately $76,000. 84.04% of the stock is currently owned by institutional investors.

Generac Stock Performance

NYSE:GNRC opened at $150.66 on Monday. The stock has a market cap of $8.90 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.72. The firm's fifty day simple moving average is $131.40 and its 200 day simple moving average is $134.21. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $195.94. The company has a quick ratio of 0.89, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.27. The business had revenue of $942.12 million for the quarter, compared to analysts' expectations of $921.78 million. Generac had a net margin of 7.68% and a return on equity of 18.90%. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, research analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. TD Cowen reduced their price target on shares of Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Canaccord Genuity Group reduced their price target on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird reduced their price target on shares of Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $169.17.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the completion of the transaction, the chief executive officer owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company's stock.

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.

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