Bank of America Corp DE Cuts Stock Holdings in Thermon Group Holdings, Inc. $THR

Key Points

• Bank of America cut its Thermon Group stake by 31.5% in the first quarter, selling 70,638 shares and retaining 153,491 shares worth approximately $7.7 million.
• Institutional ownership remains very high at 99.76%, with several major investors—including Clifford Capital Partners, Janus Henderson, Invesco, and UBS—substantially increasing their positions.
• Analysts have a consensus “Hold” rating on THR, with an average price target of $57.00; the stock recently opened at $61.14.

Bank of America Corp DE lowered its position in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,491 shares of the technology company's stock after selling 70,638 shares during the period. Bank of America Corp DE owned about 0.47% of Thermon Group worth $7,736,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in THR. Clifford Capital Partners LLC increased its position in shares of Thermon Group by 2,551.8% during the fourth quarter. Clifford Capital Partners LLC now owns 430,230 shares of the technology company's stock valued at $15,987,000 after acquiring an additional 414,006 shares during the last quarter. Janus Henderson Group PLC boosted its position in Thermon Group by 960.3% in the fourth quarter. Janus Henderson Group PLC now owns 250,813 shares of the technology company's stock worth $9,320,000 after purchasing an additional 227,157 shares during the last quarter. Invesco Ltd. grew its stake in Thermon Group by 445.3% in the 4th quarter. Invesco Ltd. now owns 273,068 shares of the technology company's stock valued at $10,147,000 after purchasing an additional 222,990 shares during the period. UBS Group AG grew its stake in Thermon Group by 287.4% in the 3rd quarter. UBS Group AG now owns 288,370 shares of the technology company's stock valued at $7,705,000 after purchasing an additional 213,935 shares during the period. Finally, GW&K Investment Management LLC increased its position in shares of Thermon Group by 13.8% during the 4th quarter. GW&K Investment Management LLC now owns 1,627,257 shares of the technology company's stock valued at $60,469,000 after purchasing an additional 197,715 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on THR. Weiss Ratings downgraded shares of Thermon Group from a "buy (b)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Thermon Group to a "hold" rating in a report on Saturday, May 30th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $57.00.

Thermon Group Price Performance

NYSE THR opened at $61.14 on Wednesday. The company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a 52 week low of $23.86 and a 52 week high of $71.87. The firm's 50-day simple moving average is $61.14 and its two-hundred day simple moving average is $57.55.

Thermon Group Profile

Thermon Group, Inc NYSE: THR is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon's core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.

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