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

Essex Investment Management Co. LLC purchased a new stake in shares of Gencor Industries, Inc. (NASDAQ:GENC) in the third quarter, Holdings Channel.com reports. The firm purchased 129,751 shares of the company’s stock, valued at approximately $1,898,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GENC. Martin & Co. Inc. TN lifted its holdings in shares of Gencor Industries by 14.4% in the second quarter. Martin & Co. Inc. TN now owns 292,227 shares of the company’s stock valued at $4,091,000 after purchasing an additional 36,728 shares in the last quarter. Geode Capital Management LLC raised its position in Gencor Industries by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 240,729 shares of the company’s stock valued at $3,371,000 after buying an additional 2,913 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Gencor Industries by 18.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 224,460 shares of the company’s stock valued at $3,142,000 after buying an additional 34,260 shares during the last quarter. De Lisle Partners LLP boosted its holdings in Gencor Industries by 3.4% during the 2nd quarter. De Lisle Partners LLP now owns 151,222 shares of the company’s stock worth $2,116,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Gencor Industries by 16.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,782 shares of the company’s stock worth $1,067,000 after acquiring an additional 12,462 shares during the last quarter.

Gencor Industries Stock Performance

Shares of NASDAQ:GENC opened at $15.28 on Wednesday. The company has a market capitalization of $223.97 million, a P/E ratio of 13.89 and a beta of 0.52. The company’s 50-day moving average is $13.44 and its 200 day moving average is $14.14. Gencor Industries, Inc. has a fifty-two week low of $10.80 and a fifty-two week high of $17.40.

Wall Street Analysts Forecast Growth

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

About Gencor Industries

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.