Envestnet Asset Management Inc. Raises Stock Holdings in Thor Industries, Inc. (NYSE:THO)

Envestnet Asset Management Inc. boosted its stake in shares of Thor Industries, Inc. (NYSE:THO - Free Report) by 15.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 786,674 shares of the construction company's stock after purchasing an additional 103,682 shares during the period. Envestnet Asset Management Inc. owned approximately 1.48% of Thor Industries worth $59,638,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of THO. Oppenheimer & Co. Inc. increased its holdings in Thor Industries by 7.5% in the first quarter. Oppenheimer & Co. Inc. now owns 3,281 shares of the construction company's stock valued at $249,000 after buying an additional 228 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Thor Industries by 33.5% during the first quarter. QRG Capital Management Inc. now owns 20,453 shares of the construction company's stock worth $1,551,000 after purchasing an additional 5,136 shares during the last quarter. Amundi grew its holdings in shares of Thor Industries by 26.2% during the fourth quarter. Amundi now owns 4,354 shares of the construction company's stock worth $415,000 after purchasing an additional 905 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Thor Industries by 6.0% during the first quarter. Teacher Retirement System of Texas now owns 13,211 shares of the construction company's stock worth $1,002,000 after purchasing an additional 749 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Thor Industries by 55.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,014 shares of the construction company's stock worth $288,000 after purchasing an additional 1,075 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Thor Industries Stock Down 3.4%

Shares of Thor Industries stock traded down $3.14 during trading on Tuesday, reaching $88.98. 524,928 shares of the company traded hands, compared to its average volume of 672,852. The firm has a market capitalization of $4.73 billion, a PE ratio of 21.34, a P/E/G ratio of 1.92 and a beta of 1.21. The company has a 50 day moving average price of $84.98 and a 200-day moving average price of $86.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. Thor Industries, Inc. has a 1-year low of $63.16 and a 1-year high of $118.85.

Thor Industries (NYSE:THO - Get Free Report) last posted its earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.74. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates 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 was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 EPS. As a group, equities research analysts expect that Thor Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

Thor Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, July 1st. Thor Industries's dividend payout ratio is currently 47.96%.

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

Analyst Upgrades and Downgrades

THO has been the topic of a number of analyst reports. Robert W. Baird lowered Thor Industries from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $100.00 to $85.00 in a report on Friday, April 4th. 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. KeyCorp increased their price target on shares of Thor Industries from $60.00 to $65.00 and gave the stock an "underweight" rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Thor Industries from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Baird R W cut shares of Thor Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Thor Industries currently has an average rating of "Hold" and a consensus target price of $87.63.

Insiders Place Their Bets

In other news, Director Peter Busch Orthwein bought 3,000 shares of the business's stock in a transaction dated Friday, June 20th. The shares were purchased 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 approximately $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by corporate insiders.

Thor Industries Company Profile

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.