Envestnet Portfolio Solutions Inc. Buys 20,807 Shares of Gentex Corporation $GNTX

Key Points

• Envestnet Portfolio Solutions Inc. significantly increased its stake in Gentex Corporation by 184.6%, acquiring an additional 20,807 shares, bringing its total holdings to 32,078 shares worth approximately $705,000.
• Gentex recently reported quarterly earnings of $0.47 per share, which exceeded analyst estimates of $0.39, with revenue of $657.86 million, marking a 14.8% increase year-over-year.
• A quarterly dividend of $0.12 per share has been declared, with an annualized yield of 1.8%, alongside a stock buyback plan allowing for the repurchase of up to 40 million shares.

Envestnet Portfolio Solutions Inc. increased its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 184.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,078 shares of the auto parts company's stock after acquiring an additional 20,807 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Gentex were worth $705,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GNTX. Larson Financial Group LLC raised its holdings 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 during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings 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 during the last quarter. Brooklyn Investment Group raised its holdings in Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock worth $28,000 after buying an additional 917 shares during the last quarter. State of Wyoming acquired a new position in Gentex during the first quarter worth $45,000. Finally, Steph & Co. acquired a new position in Gentex during the second quarter worth $45,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GNTX shares. Weiss Ratings restated a "hold (c)" rating on shares of Gentex in a report on Wednesday, October 8th. Zacks Research lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird upped their target price on shares of Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Gentex from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $29.14.

Gentex Stock Performance

GNTX opened at $26.44 on Tuesday. The firm has a market cap of $5.80 billion, a P/E ratio of 14.94 and a beta of 0.84. The firm has a 50-day moving average of $27.71 and a 200 day moving average of $24.44. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.48.

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

Gentex Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 1.8%. Gentex's dividend payout ratio is presently 27.12%.

Gentex announced that its board has approved a stock buyback plan on Wednesday, July 16th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Gentex Company 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.

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