Pinebridge Investments L.P. Boosts Stock Position in THOR Industries, Inc. (NYSE:THO)

by · The Markets Daily

Pinebridge Investments L.P. grew its holdings in shares of THOR Industries, Inc. (NYSE:THO – Free Report) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,535 shares of the construction company’s stock after purchasing an additional 3,144 shares during the quarter. Pinebridge Investments L.P.’s holdings in THOR Industries were worth $1,678,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Atala Financial Inc bought a new stake in THOR Industries in the fourth quarter worth about $27,000. First Horizon Advisors Inc. raised its holdings in shares of THOR Industries by 57.3% in the 4th quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock worth $32,000 after purchasing an additional 121 shares during the period. Brown Brothers Harriman & Co. lifted its stake in THOR Industries by 369.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company’s stock valued at $40,000 after purchasing an additional 329 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in THOR Industries during the fourth quarter valued at $51,000. Finally, Tortoise Investment Management LLC grew its holdings in THOR Industries by 78.3% during the fourth quarter. Tortoise Investment Management LLC now owns 576 shares of the construction company’s stock valued at $55,000 after purchasing an additional 253 shares during the period. 96.71% of the stock is currently owned by institutional investors.

THOR Industries Trading Down 0.7 %

THOR Industries stock opened at $73.96 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 1.71. THOR Industries, Inc. has a fifty-two week low of $63.16 and a fifty-two week high of $118.85. The stock has a market cap of $3.93 billion, a P/E ratio of 18.92, a PEG ratio of 1.16 and a beta of 1.59. The firm’s fifty day moving average price is $80.28 and its 200-day moving average price is $95.82.

THOR Industries (NYSE:THO – Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.08). The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. Equities research analysts forecast that THOR Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

THOR Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 8th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Tuesday, April 8th. THOR Industries’s dividend payout ratio is currently 53.05%.

Analysts Set New Price Targets

THO has been the topic of a number of recent research reports. Citigroup cut THOR Industries from a “buy” rating to a “neutral” rating and dropped their price target for the company from $94.00 to $86.00 in a research report on Wednesday, March 19th. Robert W. Baird lowered shares of THOR Industries from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $100.00 to $85.00 in a research report on Friday, April 4th. DA Davidson raised shares of THOR Industries to a “hold” rating in a research report on Monday, April 14th. BMO Capital Markets cut their price objective on shares of THOR Industries from $120.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Baird R W cut shares of THOR Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $87.57.

Get Our Latest Stock Report on THO

THOR Industries Company Profile

(Free Report)

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.

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