Envestnet Portfolio Solutions Inc. Boosts Stock Position in Gentex Co. (NASDAQ:GNTX)

Envestnet Portfolio Solutions Inc. grew its holdings in Gentex Co. (NASDAQ:GNTX) by 50.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,485 shares of the auto parts company’s stock after purchasing an additional 3,187 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Gentex were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in Gentex during the 4th quarter valued at about $29,000. National Bank of Canada FI raised its stake in shares of Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 571 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Gentex in the fourth quarter valued at approximately $46,000. Opal Wealth Advisors LLC bought a new position in Gentex in the second quarter worth approximately $73,000. Finally, LRI Investments LLC purchased a new position in Gentex during the 1st quarter worth $93,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. B. Riley lowered their target price on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Robert W. Baird lowered their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.33.

Gentex Stock Down 0.4 %

Shares of Gentex stock opened at $30.44 on Friday. The company has a market cap of $7.04 billion, a P/E ratio of 16.11, a PEG ratio of 0.91 and a beta of 0.93. The firm’s 50 day moving average price is $32.19 and its 200-day moving average price is $34.13. Gentex Co. has a 52-week low of $27.86 and a 52-week high of $37.58.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The firm had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, equities research analysts forecast that Gentex Co. will post 2.02 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, July 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, July 5th. Gentex’s dividend payout ratio is currently 25.40%.

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.