US Bancorp DE Has $226,000 Stock Position in Thor Industries, Inc. (NYSE:THO)

US Bancorp DE reduced its holdings in Thor Industries, Inc. (NYSE:THO) by 18.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,979 shares of the construction company’s stock after selling 688 shares during the quarter. US Bancorp DE’s holdings in Thor Industries were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in THO. ACR Alpine Capital Research LLC increased its holdings in Thor Industries by 62.5% in the first quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the construction company’s stock worth $264,040,000 after purchasing an additional 1,339,951 shares in the last quarter. Southpoint Capital Advisors LP increased its holdings in Thor Industries by 73.2% in 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 in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Thor Industries by 43.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the construction company’s stock worth $41,518,000 after purchasing an additional 167,148 shares in the last quarter. Carnegie Investment Counsel bought a new stake in Thor Industries in the first quarter worth approximately $8,508,000. Finally, Envestnet Asset Management Inc. increased its holdings in Thor Industries by 15.2% in the first quarter. Envestnet Asset Management Inc. now owns 786,674 shares of the construction company’s stock worth $59,638,000 after purchasing an additional 103,682 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Transactions at Thor Industries

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

Analyst Ratings Changes

A number of brokerages have weighed in on THO. Citigroup reiterated a “neutral” rating and issued a $100.00 target price (up from $88.00) on shares of Thor Industries in a report on Tuesday. Wall Street Zen upgraded Thor Industries from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Truist Financial lifted their target price on Thor Industries from $72.00 to $78.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Roth Capital set a $77.00 price objective on Thor Industries and gave the company a “neutral” rating in a report on Monday, June 9th. Finally, KeyCorp upgraded Thor Industries from an “underweight” rating to a “sector weight” rating in a report on Friday, August 1st. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $89.38.

Thor Industries Trading Down 0.8%

NYSE THO opened at $108.34 on Friday. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 2.19 and a beta of 1.21. Thor Industries, Inc. has a 52 week low of $63.15 and a 52 week high of $118.85. The business has a 50 day moving average price of $91.86 and a 200-day moving average price of $86.50. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24.

Thor Industries (NYSE:THO) last released its quarterly earnings data on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.79 by $0.74. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $2.13 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that Thor Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

Thor Industries announced that its Board of Directors has initiated a stock buyback program on Monday, June 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Thor Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.8%. Thor Industries’s dividend payout ratio is 47.96%.

About Thor Industries

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.