Essex Investment Management Co. LLC Makes New Investment in Gencor Industries, Inc. $GENC

Essex Investment Management Co. LLC purchased a new position in Gencor Industries, Inc. (NASDAQ:GENC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 129,751 shares of the company’s stock, valued at approximately $1,898,000. Essex Investment Management Co. LLC owned 0.89% of Gencor Industries as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GENC. Evermay Wealth Management LLC bought a new position in Gencor Industries during the second quarter worth $26,000. Raymond James Financial Inc. acquired a new stake in Gencor Industries during the 2nd quarter worth about $75,000. Strs Ohio bought a new position in shares of Gencor Industries in the 1st quarter worth about $136,000. Jane Street Group LLC acquired a new position in shares of Gencor Industries in the 1st quarter valued at about $194,000. Finally, Bank of America Corp DE lifted its stake in shares of Gencor Industries by 49.9% in the 2nd quarter. Bank of America Corp DE now owns 15,488 shares of the company’s stock valued at $217,000 after purchasing an additional 5,154 shares during the period.

Gencor Industries Stock Performance

Shares of NASDAQ:GENC opened at $15.28 on Wednesday. Gencor Industries, Inc. has a 52-week low of $10.80 and a 52-week high of $17.40. The business’s 50 day simple moving average is $13.44 and its two-hundred day simple moving average is $14.14. The firm has a market cap of $223.97 million, a P/E ratio of 13.89 and a beta of 0.52.

Analysts Set New Price Targets

Several research firms recently commented on GENC. UBS Group reaffirmed a “buy” rating on shares of Gencor Industries in a research note on Monday. Loop Capital set a $17.60 price objective on shares of Gencor Industries in a research report on Monday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.60.

Gencor Industries Company Profile

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. It 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. The company also provides combustion systems that transform solid, liquid, or gaseous fuels into usable energy, or burn multiple fuels in asphalt and aggregate drying industries; and combustion systems for rotary dryers, kilns, fume and liquid incinerators, and fuel heaters, as well as industrial incinerators.