Canada Pension Plan Investment Board Takes Position in Thermon Group Holdings, Inc. (NYSE:THR)

Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,300 shares of the technology company’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC purchased a new stake in shares of Thermon Group during the second quarter valued at approximately $827,000. First Eagle Investment Management LLC boosted its holdings in Thermon Group by 358.8% in the second quarter. First Eagle Investment Management LLC now owns 195,000 shares of the technology company’s stock worth $5,998,000 after purchasing an additional 152,500 shares during the last quarter. Blair William & Co. IL boosted its holdings in Thermon Group by 1.9% in the second quarter. Blair William & Co. IL now owns 197,208 shares of the technology company’s stock worth $6,066,000 after purchasing an additional 3,684 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Thermon Group by 9.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock worth $216,000 after purchasing an additional 613 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Thermon Group in the second quarter worth approximately $1,479,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, September 14th.

Thermon Group Trading Up 2.2 %

Shares of THR stock opened at $29.85 on Monday. The firm’s 50 day moving average is $29.99 and its 200 day moving average is $31.11. The stock has a market capitalization of $1.01 billion, a P/E ratio of 19.90 and a beta of 1.06. Thermon Group Holdings, Inc. has a 12-month low of $23.76 and a 12-month high of $35.93. The company has a current ratio of 2.61, a quick ratio of 1.73 and a debt-to-equity ratio of 0.31.

Thermon Group (NYSE:THR) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.07. The business had revenue of $115.10 million for the quarter, compared to analysts’ expectations of $115.99 million. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. Research analysts expect that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current year.

About Thermon Group

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.