Thor Industries, Inc. $THO Stock Holdings Lessened by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Thor Industries by 12% in Q1, owning 482,637 shares valued at approximately $36.59 million.
• Thor Industries reported Q1 earnings of $2.53 per share, significantly exceeding analysts' estimates of $1.79, with revenues of $2.89 billion.
• The company has initiated a $400 million stock buyback program, indicating that its board believes its stock is undervalued.

Raymond James Financial Inc. lowered its stake in Thor Industries, Inc. (NYSE:THO - Free Report) by 12.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 482,637 shares of the construction company's stock after selling 65,868 shares during the quarter. Raymond James Financial Inc. owned approximately 0.91% of Thor Industries worth $36,589,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Guggenheim Capital LLC increased its holdings in shares of Thor Industries by 20.2% during the 4th quarter. Guggenheim Capital LLC now owns 2,963 shares of the construction company's stock worth $284,000 after buying an additional 498 shares during the last quarter. MetLife Investment Management LLC boosted its position in Thor Industries by 8.9% in the 4th quarter. MetLife Investment Management LLC now owns 29,894 shares of the construction company's stock valued at $2,861,000 after buying an additional 2,441 shares during the last quarter. Hsbc Holdings PLC boosted its position in Thor Industries by 140.9% in the 4th quarter. Hsbc Holdings PLC now owns 6,301 shares of the construction company's stock valued at $604,000 after buying an additional 3,685 shares during the last quarter. Pinebridge Investments L.P. boosted its position in Thor Industries by 21.8% in the 4th quarter. Pinebridge Investments L.P. now owns 17,535 shares of the construction company's stock valued at $1,678,000 after buying an additional 3,144 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Thor Industries by 8.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,449 shares of the construction company's stock worth $3,680,000 after purchasing an additional 2,985 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Thor Industries news, Director Peter Busch Orthwein acquired 3,000 shares of Thor Industries stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the transaction, the director owned 136,400 shares in the company, valued at approximately $11,648,560. This represents a 2.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Truist Financial increased 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. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a research report on Monday, June 9th. KeyCorp raised shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Citigroup reissued a "neutral" rating and issued a $100.00 target price (up previously from $88.00) on shares of Thor Industries in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $89.38.

Thor Industries Stock Performance

THO stock traded down $0.01 during midday trading on Friday, reaching $109.71. The company had a trading volume of 454,695 shares, compared to its average volume of 792,051. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $96.60 and a 200 day moving average price of $87.00. Thor Industries, Inc. has a fifty-two week low of $63.15 and a fifty-two week high of $118.85. The firm has a market capitalization of $5.84 billion, a PE ratio of 26.31, a P/E/G ratio of 2.20 and a beta of 1.21.

Thor Industries (NYSE:THO - Get Free Report) last issued its earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating 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 company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. Thor Industries's quarterly revenue was up 3.3% compared to the same quarter last year. Thor Industries has set its FY 2025 guidance at 3.300-4.000 EPS. Analysts anticipate that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

Thor Industries announced that its Board of Directors has approved a stock buyback program on Monday, June 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Thor Industries Dividend Announcement

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

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.