Bank of New York Mellon Corp lifted its position in Generac Holdings Inc. (NYSE:GNRC) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,414 shares of the technology company’s stock after purchasing an additional 2,114 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of Generac worth $11,546,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgePoint Investment Group Inc. increased its stake in shares of Generac by 13.9% in the second quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock valued at $317,060,000 after buying an additional 1,069,401 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Generac by 29.0% in the second quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock valued at $82,893,000 after buying an additional 515,905 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Generac by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,464,989 shares of the technology company’s stock valued at $52,930,000 after buying an additional 48,421 shares in the last quarter. State Street Corp increased its stake in shares of Generac by 5.1% in the second quarter. State Street Corp now owns 1,241,485 shares of the technology company’s stock valued at $44,855,000 after buying an additional 60,746 shares in the last quarter. Finally, Shapiro Capital Management LLC acquired a new stake in shares of Generac in the second quarter valued at $37,696,000. Institutional investors and hedge funds own 95.78% of the company’s stock.
Generac Holdings Inc. (NYSE:GNRC) opened at $50.36 on Friday. The stock has a market capitalization of $3,116.26, a PE ratio of 26.51, a P/E/G ratio of 1.73 and a beta of 1.74. Generac Holdings Inc. has a 1-year low of $33.77 and a 1-year high of $53.78. The company has a quick ratio of 1.01, a current ratio of 1.77 and a debt-to-equity ratio of 1.92.
In other Generac news, CMO Russell S. Minick sold 24,085 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $50.92, for a total transaction of $1,226,408.20. Following the transaction, the chief marketing officer now owns 39,369 shares in the company, valued at $2,004,669.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.76, for a total value of $238,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,085 shares of company stock worth $1,725,208. 3.00% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the company. TheStreet upgraded Generac from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. KeyCorp upgraded Generac from a “sector weight” rating to an “overweight” rating and set a $55.00 target price for the company in a research note on Monday, October 2nd. Robert W. Baird restated a “buy” rating and issued a $50.00 target price on shares of Generac in a research note on Wednesday, October 4th. Oppenheimer restated a “hold” rating on shares of Generac in a research note on Friday, September 8th. Finally, Canaccord Genuity raised their target price on Generac from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.00.
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Generac Company Profile
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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