Wells Fargo & Company MN Cuts Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Wells Fargo & Company MN lessened its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 394,229 shares of the technology company’s stock after selling 43,027 shares during the period. Wells Fargo & Company MN owned approximately 1.17% of Thermon Group worth $11,342,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of THR. Lightrock Netherlands B.V. acquired a new stake in shares of Thermon Group in the fourth quarter valued at $4,995,000. 272 Capital LP acquired a new stake in Thermon Group in the 3rd quarter valued at about $3,173,000. First Eagle Investment Management LLC boosted its stake in shares of Thermon Group by 16.7% in the 4th quarter. First Eagle Investment Management LLC now owns 319,411 shares of the technology company’s stock valued at $9,189,000 after buying an additional 45,800 shares during the period. Barclays PLC grew its position in shares of Thermon Group by 312.1% during the third quarter. Barclays PLC now owns 54,149 shares of the technology company’s stock worth $1,616,000 after buying an additional 41,009 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Thermon Group during the fourth quarter worth approximately $1,173,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Thermon Group Stock Up 0.5 %

Thermon Group stock opened at $25.02 on Wednesday. The stock has a market cap of $842.76 million, a PE ratio of 18.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The stock’s fifty day moving average is $28.21 and its two-hundred day moving average is $28.87. Thermon Group Holdings, Inc. has a 1-year low of $23.05 and a 1-year high of $35.93.

Thermon Group (NYSE:THR) last issued its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. On average, sell-side analysts expect that Thermon Group Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Thermon Group Company Profile

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.