Envestnet Portfolio Solutions Inc. Raises Stock Position in Thor Industries, Inc. $THO

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Thor Industries by 85.4% during the second quarter, owning 14,085 shares worth approximately $1.25 million.
• Thor Industries announced a quarterly dividend increase from $0.50 to $0.52, reflecting a positive change and an annualized yield of 2.0%.
• Several analysts have set varied price targets for Thor Industries' stock, with estimates ranging from $93.00 to $120.00, indicating a generally favorable outlook for the company.

Envestnet Portfolio Solutions Inc. increased its stake in Thor Industries, Inc. (NYSE:THO - Free Report) by 85.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,085 shares of the RV manufacturer's stock after purchasing an additional 6,487 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Thor Industries were worth $1,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Thor Industries by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,376,681 shares of the RV manufacturer's stock worth $407,606,000 after purchasing an additional 326,584 shares during the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of Thor Industries by 62.5% during the 1st quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the RV manufacturer's stock worth $264,040,000 after acquiring an additional 1,339,951 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Thor Industries by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,959,547 shares of the RV manufacturer's stock worth $224,364,000 after acquiring an additional 29,012 shares during the last quarter. Timucuan Asset Management Inc. FL boosted its stake in shares of Thor Industries by 20.1% during the 1st quarter. Timucuan Asset Management Inc. FL now owns 2,448,401 shares of the RV manufacturer's stock worth $185,613,000 after acquiring an additional 409,636 shares during the last quarter. Finally, Southpoint Capital Advisors LP boosted its stake in shares of Thor Industries by 106.2% during the 1st quarter. Southpoint Capital Advisors LP now owns 1,250,000 shares of the RV manufacturer's stock worth $94,762,000 after acquiring an additional 643,851 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on THO shares. Roth Capital set a $93.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a research note on Wednesday, September 17th. DA Davidson lifted their price target on shares of Thor Industries from $78.00 to $102.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 30th. BMO Capital Markets lifted their price target on shares of Thor Industries from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Bank of America raised their price objective on shares of Thor Industries from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Finally, KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $104.00.

Thor Industries Price Performance

THO stock opened at $104.63 on Friday. Thor Industries, Inc. has a 12 month low of $63.15 and a 12 month high of $118.85. The company has a current ratio of 1.75, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $106.23 and a 200 day moving average price of $91.10. The stock has a market cap of $5.51 billion, a PE ratio of 25.09, a P/E/G ratio of 1.83 and a beta of 1.35.

Thor Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 23rd will be given a $0.52 dividend. This is a positive change from Thor Industries's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.08 annualized dividend and a yield of 2.0%. Thor Industries's dividend payout ratio is presently 47.96%.

Thor Industries announced that its board has initiated a stock repurchase plan on Monday, June 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the RV manufacturer to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Thor Industries 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.

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