Public Sector Pension Investment Board Invests $3.47 Million in Gentex Corporation $GNTX

Key Points

• The Public Sector Pension Investment Board has acquired a new stake in Gentex Corporation, purchasing 149,055 shares valued at approximately $3.47 million, resulting in ownership of about 0.07% of the company.
• During the first quarter, other institutional investors also increased their stakes, with acquisitions totaling several million dollars, leading to 86.76% of Gentex's stock currently held by institutional investors.
• Gentex reported strong earnings with $0.47 earnings per share, surpassing estimates, and has initiated a stock buyback plan allowing the repurchase of up to 40 million shares, indicating the board's belief that the stock may be undervalued.

Public Sector Pension Investment Board acquired a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 149,055 shares of the auto parts company's stock, valued at approximately $3,473,000. Public Sector Pension Investment Board owned approximately 0.07% of Gentex as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Gentex by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company's stock worth $37,798,000 after buying an additional 62,137 shares during the period. Principal Financial Group Inc. increased its position in Gentex by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company's stock worth $12,197,000 after buying an additional 1,923 shares during the period. Marshall Wace LLP bought a new position in Gentex in the 4th quarter worth approximately $10,868,000. Asset Management One Co. Ltd. increased its position in Gentex by 5.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company's stock worth $5,113,000 after buying an additional 12,168 shares during the period. Finally, Praxis Investment Management Inc. bought a new position in Gentex in the 1st quarter worth approximately $359,000. 86.76% of the stock is owned by institutional investors.

Gentex Trading Up 2.7%

GNTX stock traded up $0.75 during trading on Friday, hitting $28.16. The company had a trading volume of 1,670,695 shares, compared to its average volume of 2,411,117. The company has a fifty day moving average price of $24.49 and a two-hundred day moving average price of $23.47. The company has a market cap of $6.18 billion, a P/E ratio of 15.91 and a beta of 0.82. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.75.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.39 by $0.08. The business had revenue of $657.86 million for 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 quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. On average, analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. Gentex's dividend payout ratio is 27.12%.

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

Analyst Ratings Changes

Several research analysts have commented on GNTX shares. Robert W. Baird lifted 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. B. Riley lifted their price objective on Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. The Goldman Sachs Group reissued a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Finally, Industrial Alliance Securities set a $25.00 price objective on Gentex in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.63.

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.