Swedbank AB Sells 224,000 Shares of Thermon Group Holdings, Inc. $THR

Key Points

• Swedbank AB cut its Thermon Group stake by 32.3% in the first quarter, selling 224,000 shares and leaving it with 470,000 shares valued at about $23.7 million.
• Institutional ownership remains extremely high, with 99.76% of Thermon Group shares held by institutional investors despite several funds making small position changes.
• Analysts are mostly neutral on THR: recent rating changes included downgrades to Hold, and the stock currently carries a consensus Hold rating with an average price target of $57.00.

Swedbank AB lowered its position in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 470,000 shares of the technology company's stock after selling 224,000 shares during the period. Swedbank AB owned about 1.43% of Thermon Group worth $23,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC lifted its position in shares of Thermon Group by 2.3% in the 3rd quarter. Intech Investment Management LLC now owns 14,346 shares of the technology company's stock worth $383,000 after purchasing an additional 327 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Thermon Group by 5.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 10,091 shares of the technology company's stock worth $375,000 after buying an additional 525 shares in the last quarter. Legal & General Group Plc lifted its holdings in Thermon Group by 2.2% during the third quarter. Legal & General Group Plc now owns 38,133 shares of the technology company's stock worth $1,019,000 after buying an additional 807 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Thermon Group by 0.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 240,903 shares of the technology company's stock worth $8,952,000 after buying an additional 816 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Thermon Group by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,822 shares of the technology company's stock valued at $552,000 after acquiring an additional 845 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

THR has been the subject of several recent research reports. Weiss Ratings lowered Thermon Group from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Zacks Research downgraded Thermon Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded Thermon Group to a "hold" rating in a research note on Saturday, May 30th. Six analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $57.00.

Thermon Group Stock Performance

Thermon Group stock opened at $61.14 on Friday. The stock has a 50-day moving average of $63.04 and a two-hundred day moving average of $52.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.69. Thermon Group Holdings, Inc. has a one year low of $23.86 and a one year high of $71.87. The stock has a market cap of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The business had revenue of $148.33 million for the quarter, compared to analysts' expectations of $137.85 million. During the same quarter in the previous year, the firm posted $0.56 EPS. Thermon Group's revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Thermon Group Holdings, Inc. will post 2.27 EPS for the current fiscal year.

Thermon Group 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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