Raymond James Financial Inc. Lowers Stock Holdings in Thor Industries, Inc. $THO

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. lessened its stake in shares of Thor Industries, Inc. (NYSE:THO - Free Report) by 12.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,637 shares of the construction company's stock after selling 65,868 shares during the period. Raymond James Financial Inc. owned approximately 0.91% of Thor Industries worth $36,589,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Guggenheim Capital LLC increased its holdings in shares of Thor Industries by 20.2% during the fourth quarter. Guggenheim Capital LLC now owns 2,963 shares of the construction company's stock valued at $284,000 after acquiring an additional 498 shares in the last quarter. MetLife Investment Management LLC grew its position in Thor Industries by 8.9% during the 4th quarter. MetLife Investment Management LLC now owns 29,894 shares of the construction company's stock valued at $2,861,000 after purchasing an additional 2,441 shares during the last quarter. Hsbc Holdings PLC grew its position in Thor Industries by 140.9% during the 4th quarter. Hsbc Holdings PLC now owns 6,301 shares of the construction company's stock valued at $604,000 after purchasing an additional 3,685 shares during the last quarter. Pinebridge Investments L.P. increased its stake in Thor Industries by 21.8% during the 4th quarter. Pinebridge Investments L.P. now owns 17,535 shares of the construction company's stock valued at $1,678,000 after purchasing an additional 3,144 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Thor Industries by 8.4% in 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 buying an additional 2,985 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

Insiders Place Their Bets

In related news, Director Peter Busch Orthwein purchased 3,000 shares of the business's stock in a transaction on Friday, June 20th. The stock was acquired at an average price of $85.40 per share, with a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

THO has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Thor Industries from $72.00 to $78.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. KeyCorp upgraded Thor Industries from an "underweight" rating to a "sector weight" rating in a research note on Friday, August 1st. Citigroup restated a "neutral" rating and issued a $100.00 price target (up previously from $88.00) on shares of Thor Industries in a research note on Tuesday, August 12th. Wall Street Zen raised Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, 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. Two analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Thor Industries presently has a consensus rating of "Hold" and a consensus price target of $89.38.

Thor Industries Stock Performance

THO stock traded up $1.15 during trading on Wednesday, reaching $110.41. The stock had a trading volume of 642,522 shares, compared to its average volume of 779,342. The firm has a market cap of $5.87 billion, a PE ratio of 26.48, a PEG ratio of 2.22 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. The stock's 50 day moving average is $95.14 and its two-hundred day moving average is $86.73. Thor Industries, Inc. has a 52 week low of $63.15 and a 52 week high of $118.85.

Thor Industries (NYSE:THO - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating 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 for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. Thor Industries has set its FY 2025 guidance at 3.300-4.000 EPS. As a group, equities analysts anticipate that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

Thor Industries announced that its board has initiated a stock buyback program on Monday, June 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the construction company to purchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Thor Industries Dividend Announcement

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

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.