Envestnet Asset Management Inc. Boosts Stake in Thor Industries, Inc. (NYSE:THO)

Envestnet Asset Management Inc. increased its stake in Thor Industries, Inc. (NYSE:THO - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 786,674 shares of the construction company's stock after acquiring an additional 103,682 shares during the period. Envestnet Asset Management Inc. owned approximately 1.48% of Thor Industries worth $59,638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in THO. Atala Financial Inc purchased a new position in Thor Industries in the fourth quarter worth about $27,000. UMB Bank n.a. lifted its stake in Thor Industries by 135.6% in the first quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock worth $37,000 after purchasing an additional 278 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Thor Industries by 369.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company's stock worth $40,000 after purchasing an additional 329 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Thor Industries in the fourth quarter worth about $58,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Thor Industries in the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on THO shares. Truist Financial boosted their price target on Thor Industries from $72.00 to $78.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Baird R W lowered Thor Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. DA Davidson upgraded Thor Industries to a "hold" rating in a report on Monday, April 14th. Finally, KeyCorp boosted their price target on Thor Industries from $60.00 to $65.00 and gave the company an "underweight" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Thor Industries currently has a consensus rating of "Hold" and a consensus price target of $87.63.

Thor Industries Stock Down 1.5%

Shares of THO stock traded down $1.38 during trading hours on Friday, reaching $93.23. 340,139 shares of the company's stock were exchanged, compared to its average volume of 675,014. The stock's 50 day moving average is $84.98 and its 200-day moving average is $87.05. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 1.95 and a beta of 1.21. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Thor Industries, Inc. has a fifty-two week low of $63.16 and a fifty-two week high of $118.85.

Thor Industries (NYSE:THO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.74. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the firm posted $2.13 earnings per share. The business's quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that Thor Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

Thor Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, July 1st. Thor Industries's payout ratio is 47.96%.

Thor Industries announced that its Board of Directors has authorized a stock repurchase program on Monday, June 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, Director Peter Busch Orthwein bought 3,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average cost of $85.40 per share, with a total value of $256,200.00. Following the transaction, the director directly owned 136,400 shares in the company, valued at approximately $11,648,560. The trade was a 2.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.50% of the stock is currently owned by insiders.

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.