Thor Industries, Inc. (NYSE:THO) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Thor Industries, Inc. (NYSE:THOFree Report) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,374 shares of the construction company’s stock after buying an additional 755 shares during the period. Principal Financial Group Inc. owned about 0.23% of Thor Industries worth $9,277,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Timucuan Asset Management Inc. FL increased its position in Thor Industries by 16.2% during the fourth quarter. Timucuan Asset Management Inc. FL now owns 2,038,765 shares of the construction company’s stock worth $195,130,000 after purchasing an additional 283,744 shares during the last quarter. American Century Companies Inc. increased its position in Thor Industries by 8.7% during the fourth quarter. American Century Companies Inc. now owns 939,146 shares of the construction company’s stock worth $89,886,000 after purchasing an additional 75,304 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Thor Industries by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 682,992 shares of the construction company’s stock worth $65,369,000 after purchasing an additional 15,033 shares during the last quarter. Southpoint Capital Advisors LP increased its position in Thor Industries by 73.2% during the fourth quarter. Southpoint Capital Advisors LP now owns 606,149 shares of the construction company’s stock worth $58,015,000 after purchasing an additional 256,149 shares during the last quarter. Finally, Norges Bank acquired a new position in Thor Industries during the fourth quarter worth approximately $54,754,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Thor Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Robert W. Baird lowered shares of Thor Industries from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $100.00 to $85.00 in a research report on Friday, April 4th. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a “neutral” rating in a research report on Monday, June 9th. Truist Financial upped their price target on shares of Thor Industries from $72.00 to $78.00 and gave the stock a “hold” rating in a research report on Tuesday, June 3rd. Finally, Baird R W lowered shares of Thor Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.63.

Check Out Our Latest Stock Analysis on THO

Thor Industries Stock Performance

Shares of THO stock opened at $92.22 on Tuesday. The company’s fifty day simple moving average is $84.98 and its 200-day simple moving average is $86.92. Thor Industries, Inc. has a 52 week low of $63.16 and a 52 week high of $118.85. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.91 billion, a PE ratio of 22.11, a P/E/G ratio of 1.92 and a beta of 1.21.

Thor Industries (NYSE:THOGet Free Report) last issued its earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.74. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.60 billion. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. As a group, equities research analysts anticipate that Thor Industries, Inc. will post 4.64 EPS for the current year.

Thor Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. Thor Industries’s dividend payout ratio (DPR) is presently 47.96%.

Thor Industries declared that its Board of Directors has authorized a stock repurchase plan on Monday, June 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Thor Industries

In other news, Director Peter Busch Orthwein bought 3,000 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the purchase, the director owned 136,400 shares of the company’s stock, valued at $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.

About Thor Industries

(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.

Further Reading

Institutional Ownership by Quarter for Thor Industries (NYSE:THO)

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