HighTower Advisors LLC Lowers Stake in Thor Industries, Inc. $THO

Key Points

• HighTower Advisors LLC has reduced its stake in Thor Industries, Inc. by 17.7%, selling 3,713 shares during the first quarter, leaving it with 17,207 shares valued at approximately $1.3 million.
• Thor Industries reported earnings per share (EPS) of $2.53 for the last quarter, exceeding predictions by $0.74, with revenues reaching $2.89 billion compared to expectations of $2.60 billion.
• The company has initiated a $400 million share repurchase plan, allowing for the buyback of up to 8.8% of its outstanding shares, signaling confidence in its stock valuation.

HighTower Advisors LLC cut its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 17.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,207 shares of the construction company's stock after selling 3,713 shares during the quarter. HighTower Advisors LLC's holdings in Thor Industries were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of THO. ACR Alpine Capital Research LLC boosted its stake in shares of Thor Industries by 62.5% in the first quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the construction company's stock valued at $264,040,000 after buying an additional 1,339,951 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Thor Industries by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,376,681 shares of the construction company's stock valued at $407,606,000 after buying an additional 326,584 shares in the last quarter. Southpoint Capital Advisors LP raised its holdings in Thor Industries by 73.2% during the fourth quarter. Southpoint Capital Advisors LP now owns 606,149 shares of the construction company's stock worth $58,015,000 after purchasing an additional 256,149 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Thor Industries by 43.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the construction company's stock worth $41,518,000 after purchasing an additional 167,148 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Thor Industries during the first quarter worth $8,627,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on THO shares. Truist Financial lifted their price objective on Thor Industries from $72.00 to $78.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Roth Capital set a $77.00 price objective on Thor Industries and gave the stock a "neutral" rating in a report on Monday, June 9th. KeyCorp raised Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Citigroup reaffirmed a "neutral" rating and set a $100.00 price objective (up from $88.00) on shares of Thor Industries in a report on Tuesday, August 12th. Finally, Wall Street Zen raised Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $89.38.

Insider Buying and Selling

In other Thor Industries news, Director Peter Busch Orthwein bought 3,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the purchase, the director owned 136,400 shares of the company's stock, valued at $11,648,560. This trade represents a 2.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company's stock.

Thor Industries Price Performance

Shares of NYSE THO traded down $0.01 during trading on Friday, reaching $109.71. The company had a trading volume of 454,695 shares, compared to its average volume of 778,150. Thor Industries, Inc. has a twelve month low of $63.15 and a twelve month high of $118.85. The stock has a market capitalization of $5.84 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.20 and a beta of 1.33. The stock has a 50-day moving average price of $96.60 and a two-hundred day moving average price of $86.79. 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 (NYSE:THO - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.74. The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.60 billion. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%.The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 earnings per share. Thor Industries has set its FY 2025 guidance at 3.300-4.000 EPS. As a group, sell-side analysts predict that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

Thor Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, July 1st. Thor Industries's dividend payout ratio is presently 47.96%.

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

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.