Legal & General Group Plc Takes Position in Gentherm Inc $THRM

Legal & General Group Plc acquired a new position in shares of Gentherm Inc (NASDAQ:THRM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 69,953 shares of the auto parts company’s stock, valued at approximately $2,386,000. Legal & General Group Plc owned 0.23% of Gentherm at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of THRM. Farther Finance Advisors LLC boosted its holdings in shares of Gentherm by 160.3% in the 4th quarter. Farther Finance Advisors LLC now owns 812 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Gentherm in the second quarter valued at $30,000. Los Angeles Capital Management LLC acquired a new position in Gentherm in the fourth quarter valued at $35,000. Allworth Financial LP purchased a new stake in Gentherm during the second quarter valued at about $37,000. Finally, Palladiem LLC purchased a new stake in Gentherm during the fourth quarter valued at about $52,000. 97.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

THRM has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Gentherm from $41.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Freedom Capital downgraded shares of Gentherm from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Wall Street Zen cut shares of Gentherm from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Stifel Nicolaus increased their price objective on shares of Gentherm from $44.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Insider Transactions at Gentherm

In other Gentherm news, SVP Wayne Kauffman, III sold 4,700 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total transaction of $203,087.00. Following the transaction, the senior vice president owned 27,421 shares of the company’s stock, valued at $1,184,861.41. This trade represents a 14.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is owned by insiders.

Gentherm Price Performance

THRM stock opened at $40.70 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.06 and a debt-to-equity ratio of 0.38. Gentherm Inc has a 52-week low of $27.00 and a 52-week high of $48.35. The stock’s 50 day moving average is $39.18 and its two-hundred day moving average is $34.16. The company has a market capitalization of $1.25 billion, a PE ratio of 46.78, a P/E/G ratio of 0.93 and a beta of 1.34.

Gentherm (NASDAQ:THRM) last issued its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.19. The business had revenue of $404.94 million during the quarter, compared to analyst estimates of $382.90 million. Gentherm had a net margin of 1.68% and a return on equity of 12.06%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Analysts predict that Gentherm Inc will post 2.92 earnings per share for the current fiscal year.

Gentherm announced that its Board of Directors has authorized a share buyback program on Thursday, July 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 36.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.