Gencor Industries (NASDAQ:GENC) Now Covered by StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Gencor Industries (NASDAQ:GENCGet Rating) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the industrial products company’s stock.

GENC stock opened at $10.08 on Wednesday. The company’s 50-day simple moving average is $10.08 and its 200-day simple moving average is $10.62. Gencor Industries has a 52-week low of $9.43 and a 52-week high of $12.95. The firm has a market cap of $147.75 million, a P/E ratio of 72.00 and a beta of 0.58.

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Gencor Industries by 281.8% during the 2nd quarter. Royal Bank of Canada now owns 4,123 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 3,043 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Gencor Industries during the 3rd quarter worth about $111,000. State Street Corp boosted its stake in shares of Gencor Industries by 17.8% during the 1st quarter. State Street Corp now owns 17,627 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 2,659 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Gencor Industries by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,127 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 1,252 shares in the last quarter. Finally, Morgan Stanley lifted its stake in 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 buying an additional 2,549 shares in the last quarter. 41.25% of the stock is currently owned by institutional investors and hedge funds.

Gencor Industries Company Profile (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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