Envestnet Portfolio Solutions Inc. Grows Position in Gentex Corporation $GNTX

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 184.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,078 shares of the auto parts company’s stock after purchasing an additional 20,807 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Gentex were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Gentex by 39.5% in the second quarter. Sequoia Financial Advisors LLC now owns 70,950 shares of the auto parts company’s stock worth $1,560,000 after buying an additional 20,083 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Gentex by 17.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,880 shares of the auto parts company’s stock valued at $943,000 after purchasing an additional 6,524 shares in the last quarter. Inspire Investing LLC raised its stake in Gentex by 9.4% in the second quarter. Inspire Investing LLC now owns 30,651 shares of the auto parts company’s stock valued at $674,000 after purchasing an additional 2,626 shares in the last quarter. Blue Trust Inc. raised its stake in Gentex by 11.2% in the second quarter. Blue Trust Inc. now owns 14,209 shares of the auto parts company’s stock valued at $312,000 after purchasing an additional 1,426 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in Gentex by 5.7% in the second quarter. KLP Kapitalforvaltning AS now owns 68,500 shares of the auto parts company’s stock valued at $1,506,000 after purchasing an additional 3,700 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on GNTX. The Goldman Sachs Group set a $32.00 target price on shares of Gentex in a research note on Monday, September 29th. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a research note on Friday, July 11th. Wall Street Zen raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Robert W. Baird lifted their price target 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, Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.14.

Gentex Stock Up 1.7%

Shares of NASDAQ GNTX opened at $26.44 on Tuesday. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.48. The firm’s fifty day moving average is $27.71 and its 200 day moving average is $24.44. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 14.94 and a beta of 0.84.

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

Gentex announced that its Board of Directors has approved a share 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 reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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 issued a $0.12 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 1.8%. Gentex’s payout ratio is 27.12%.

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.