Bank of New York Mellon Corp Purchases 4,352 Shares of Generac Holdings Inc. (NYSE:GNRC)

Bank of New York Mellon Corp boosted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,859 shares of the technology company's stock after buying an additional 4,352 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of Generac worth $58,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in Generac during the 4th quarter worth approximately $27,000. Versant Capital Management Inc increased its holdings in Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company's stock worth $28,000 after purchasing an additional 145 shares in the last quarter. Cranbrook Wealth Management LLC bought a new stake in Generac during the 4th quarter worth approximately $28,000. Brooklyn Investment Group bought a new stake in Generac during the 3rd quarter worth approximately $31,000. Finally, Bank of Jackson Hole Trust bought a new stake in Generac during the 4th quarter worth approximately $31,000. 84.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on GNRC shares. Piper Sandler decreased their price objective on Generac from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus cut their target price on Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Robert W. Baird cut their target price on Generac from $172.00 to $171.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. UBS Group boosted their target price on Generac from $200.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group cut their target price on Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.00.

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Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now owns 570,825 shares of the company's stock, valued at approximately $89,904,937.50. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.90% of the company's stock.

Generac Stock Performance

GNRC stock traded up $5.96 during midday trading on Friday, reaching $136.85. 1,305,263 shares of the company's stock traded hands, compared to its average volume of 881,888. The company has a 50-day moving average price of $148.62 and a two-hundred day moving average price of $159.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. Generac Holdings Inc. has a 52 week low of $110.35 and a 52 week high of $195.94. The firm has a market capitalization of $8.16 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, equities analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

About Generac

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.