Nuveen LLC Invests $11.73 Million in Gentex Corporation $GNTX

Key Points

• Nuveen LLC purchased 503,517 shares of Gentex Corporation, valued at approximately $11.7 million, boosting their stake to 0.22% of the company.
• Gentex announced a quarterly dividend of $0.12 per share, with an annualized dividend yield of 1.7%, indicating a healthy management outlook on the company's valuation.
• The company reported an earnings per share (EPS) of $0.47 for the last quarter, exceeding analysts' expectations and achieving a revenue increase of 14.8% year-over-year.

Nuveen LLC bought a new position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 503,517 shares of the auto parts company's stock, valued at approximately $11,732,000. Nuveen LLC owned 0.22% of Gentex at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GNTX. Larson Financial Group LLC grew its position in Gentex by 1,471.0% during the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock worth $25,000 after buying an additional 1,015 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Gentex by 85.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock worth $28,000 after buying an additional 563 shares in the last quarter. Harbor Investment Advisory LLC grew its position in Gentex by 208.2% during the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after buying an additional 1,093 shares in the last quarter. UMB Bank n.a. grew its position in Gentex by 103.3% during the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after buying an additional 1,079 shares in the last quarter. Finally, NBC Securities Inc. grew its position in Gentex by 268,600.0% during the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after buying an additional 2,686 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GNTX. UBS Group increased their price target on Gentex from $23.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Robert W. Baird increased their price target on Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Industrial Alliance Securities set a $25.00 target price on Gentex in a report on Friday, July 11th. Finally, Zacks Research raised Gentex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $28.63.

Gentex Stock Performance

Shares of GNTX traded down $0.36 during trading hours on Thursday, reaching $28.07. The stock had a trading volume of 126,486 shares, compared to its average volume of 2,297,054. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $31.72. The stock has a market capitalization of $6.16 billion, a PE ratio of 15.88 and a beta of 0.82. The company's 50-day moving average is $24.89 and its two-hundred day moving average is $23.53.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.08. The business had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.Gentex's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. Equities analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Gentex declared that its Board of Directors has initiated a stock buyback program on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.