Gencor Industries (NASDAQ:GENC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Gencor Industries (NASDAQ:GENCGet Rating) in a research report report published on Saturday. The brokerage issued a hold rating on the industrial products company’s stock.

Shares of GENC opened at $10.22 on Friday. Gencor Industries has a fifty-two week low of $9.43 and a fifty-two week high of $13.08. The firm’s 50 day moving average price is $10.16 and its 200 day moving average price is $10.91. The company has a market cap of $149.80 million, a P/E ratio of 73.00 and a beta of 0.58.

Large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of Gencor Industries by 281.8% in the 2nd quarter. Royal Bank of Canada now owns 4,123 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 3,043 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Gencor Industries in the 3rd quarter valued at approximately $111,000. State Street Corp increased its position in shares of Gencor Industries by 17.8% in the 1st quarter. State Street Corp now owns 17,627 shares of the industrial products company’s stock valued at $181,000 after purchasing an additional 2,659 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Gencor Industries by 6.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,127 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 1,252 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Gencor Industries by 14.5% in the 2nd quarter. Morgan Stanley now owns 20,133 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 2,549 shares during the last quarter. 41.25% of the stock is currently owned by institutional investors.

About Gencor Industries (Get Rating)

Gencor Industries, Inc, together with its subsidiaries, designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment. The company offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants.

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