Royal Bank of Canada Sells 51,627 Shares of Thermon Group Holdings, Inc. $THR

Key Points

• Royal Bank of Canada cut its Thermon Group stake by 86.2% in the first quarter, selling 51,627 shares and retaining 8,274 shares valued at approximately $417,000.
• Other institutional investors significantly increased their positions, and institutions collectively own 99.76% of Thermon Group’s stock.
• Analysts maintain a consensus “Hold” rating with an average price target of $57, while THR recently opened at $61.14 and has traded between $23.86 and $71.87 over the past year.

Royal Bank of Canada trimmed its holdings in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 86.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,274 shares of the technology company's stock after selling 51,627 shares during the quarter. Royal Bank of Canada's holdings in Thermon Group were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clifford Capital Partners LLC increased its holdings in Thermon Group by 2,551.8% in the fourth quarter. Clifford Capital Partners LLC now owns 430,230 shares of the technology company's stock worth $15,987,000 after purchasing an additional 414,006 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Thermon Group by 960.3% in the fourth quarter. Janus Henderson Group PLC now owns 250,813 shares of the technology company's stock valued at $9,320,000 after buying an additional 227,157 shares during the period. Invesco Ltd. boosted its holdings in shares of Thermon Group by 445.3% during the 4th quarter. Invesco Ltd. now owns 273,068 shares of the technology company's stock worth $10,147,000 after buying an additional 222,990 shares in the last quarter. UBS Group AG boosted its holdings in shares of Thermon Group by 287.4% during the 3rd quarter. UBS Group AG now owns 288,370 shares of the technology company's stock worth $7,705,000 after buying an additional 213,935 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in shares of Thermon Group by 13.8% during the 4th quarter. GW&K Investment Management LLC now owns 1,627,257 shares of the technology company's stock worth $60,469,000 after buying an additional 197,715 shares during the period. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on THR shares. Wall Street Zen upgraded shares of Thermon Group to a "hold" rating in a research note on Saturday, May 30th. Weiss Ratings lowered shares of Thermon Group from a "buy (b)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat, Thermon Group presently has a consensus rating of "Hold" and an average price target of $57.00.

Thermon Group Price Performance

THR stock opened at $61.14 on Thursday. The firm has a market capitalization of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. The company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25. Thermon Group Holdings, Inc. has a twelve month low of $23.86 and a twelve month high of $71.87. The stock's 50 day moving average is $61.14 and its 200-day moving average is $57.64.

Thermon Group Company Profile

Thermon Group, Inc NYSE: THR is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon's core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.

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