PNC Financial Services Group Inc. trimmed its position in Thor Industries, Inc. (NYSE:THO) by 37.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,614 shares of the construction company’s stock after selling 11,939 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Thor Industries were worth $1,910,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Thor Industries by 6.9% in the second quarter. BlackRock Inc. now owns 4,420,532 shares of the construction company’s stock valued at $430,517,000 after purchasing an additional 285,394 shares in the last quarter. Swedbank raised its stake in Thor Industries by 62.7% in the second quarter. Swedbank now owns 2,583,000 shares of the construction company’s stock valued at $251,558,000 after purchasing an additional 995,000 shares in the last quarter. Wells Fargo & Company MN raised its stake in Thor Industries by 5.4% in the first quarter. Wells Fargo & Company MN now owns 1,525,126 shares of the construction company’s stock valued at $175,649,000 after purchasing an additional 77,496 shares in the last quarter. Janus Henderson Group PLC raised its stake in Thor Industries by 23.1% in the second quarter. Janus Henderson Group PLC now owns 1,261,143 shares of the construction company’s stock valued at $122,823,000 after purchasing an additional 236,775 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Thor Industries by 8.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 914,664 shares of the construction company’s stock valued at $105,343,000 after purchasing an additional 68,202 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE THO opened at $98.86 on Monday. Thor Industries, Inc. has a one year low of $87.62 and a one year high of $161.48. The company has a current ratio of 1.67, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 13.94 and a beta of 1.29.
Thor Industries declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 20th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of brokerages recently weighed in on THO. ValuEngine downgraded shares of Thor Industries from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Zacks Investment Research raised shares of Thor Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $124.00 target price on shares of Thor Industries in a research note on Monday, June 4th. Sidoti lowered their target price on shares of Thor Industries from $148.00 to $144.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Thor Industries in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $128.50.
Thor Industries Company Profile
Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles segments. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, and Basecamp trade names, as well as Interstate series of Class B motorhomes; gasoline and diesel Class A and Class C motorhomes under the Four Winds, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, A.C.E., Alante, Precept, Greyhawk, and Redhawk trade names; and luxury Class A motorhomes under Insignia, Aspire, Anthem, and Cornerstone trade names.
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