Lazard Asset Management LLC Grows Position in Gentherm Inc $THRM

Key Points

• Lazard Asset Management increased its Gentherm position by 47.5% in the first quarter, holding 241,516 shares valued at approximately $6.7 million. Institutional investors collectively own 97.13% of the company.
• Gentherm reported quarterly EPS of $0.75, exceeding estimates by $0.19, while revenue rose 11% year over year to $404.94 million. The board also authorized a $400 million stock-repurchase program, potentially covering up to 36.2% of outstanding shares.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $45.80; Stifel raised its target to $59 and maintained a buy rating.

Lazard Asset Management LLC grew its holdings in shares of Gentherm Inc (NASDAQ:THRM - Free Report) by 47.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,516 shares of the auto parts company's stock after acquiring an additional 77,736 shares during the quarter. Lazard Asset Management LLC owned about 0.79% of Gentherm worth $6,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Gentherm by 24.5% in the first quarter. Renaissance Technologies LLC now owns 271,464 shares of the auto parts company's stock worth $7,541,000 after purchasing an additional 53,400 shares during the last quarter. Gabelli Funds LLC bought a new stake in Gentherm during the first quarter valued at approximately $319,000. Gamco Investors INC. ET AL grew its stake in Gentherm by 200.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 25,500 shares of the auto parts company's stock worth $708,000 after buying an additional 17,000 shares in the last quarter. Morningstar Investment Management LLC grew its stake in Gentherm by 141.7% in the 1st quarter. Morningstar Investment Management LLC now owns 21,933 shares of the auto parts company's stock worth $609,000 after buying an additional 12,859 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Gentherm by 1.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 554,641 shares of the auto parts company's stock worth $15,408,000 after buying an additional 10,058 shares during the last quarter. Hedge funds and other institutional investors own 97.13% of the company's stock.

Gentherm Price Performance

Shares of Gentherm stock opened at $42.32 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.49 and a current ratio of 2.06. Gentherm Inc has a 52-week low of $27.00 and a 52-week high of $48.35. The company has a fifty day moving average of $36.37 and a 200-day moving average of $33.03. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 48.64 and a beta of 1.38.

Gentherm (NASDAQ:THRM - Get Free Report) last issued its earnings results on Thursday, July 23rd. The auto parts company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.19. The company had revenue of $404.94 million for the quarter, compared to analysts' expectations of $382.90 million. Gentherm had a net margin of 1.68% and a return on equity of 12.06%. The firm's revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Equities research analysts expect that Gentherm Inc will post 2.92 EPS for the current year.

Gentherm declared that its board has initiated a stock repurchase program on Thursday, July 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 36.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, SVP Wayne S. Kauffman III sold 4,700 shares of Gentherm stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total value of $203,087.00. Following the transaction, the senior vice president owned 27,421 shares in the company, valued at approximately $1,184,861.41. The trade was a 14.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on THRM. Wall Street Zen raised shares of Gentherm from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. JPMorgan Chase & Co. raised their price target on Gentherm from $41.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Stifel Nicolaus lifted their price target on Gentherm from $44.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Weiss Ratings upgraded Gentherm from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Finally, Roth Capital reiterated a "buy" rating and issued a $50.00 price objective on shares of Gentherm in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $45.80.

About Gentherm

Gentherm Incorporated NASDAQ: THRM is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company's core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm's product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.

In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.

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