Invesco Ltd. Purchases 217,352 Shares of Thermon Group Holdings, Inc. $THR

Key Points

• Invesco Ltd. increased its stake in Thermon Group Holdings, Inc. by 420.1% during Q1, now holding approximately 0.80% of the company worth $7.49 million.
• The company reported a missed earnings per share of $0.36 for the last quarter, falling short of estimates, with quarterly revenue down by 5.4% year-over-year.
• Shares of Thermon Group were opened at $26.05, with a 52-week range between $23.05 and $33.25, and currently have a market cap of $861.28 million.

Invesco Ltd. lifted its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 420.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 269,095 shares of the technology company's stock after acquiring an additional 217,352 shares during the quarter. Invesco Ltd. owned approximately 0.80% of Thermon Group worth $7,494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC increased its position in shares of Thermon Group by 68.9% in the first quarter. CWM LLC now owns 922 shares of the technology company's stock valued at $26,000 after acquiring an additional 376 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Thermon Group by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 109,898 shares of the technology company's stock valued at $3,061,000 after acquiring an additional 631 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Thermon Group by 3.7% in the first quarter. Principal Financial Group Inc. now owns 17,990 shares of the technology company's stock valued at $501,000 after acquiring an additional 639 shares during the last quarter. Quarry LP increased its position in shares of Thermon Group by 314.1% in the fourth quarter. Quarry LP now owns 853 shares of the technology company's stock valued at $25,000 after acquiring an additional 647 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Thermon Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company's stock worth $546,000 after purchasing an additional 678 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Thermon Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th.

Thermon Group Stock Performance

Thermon Group stock traded up $0.02 during midday trading on Friday, reaching $26.49. 321,936 shares of the company's stock were exchanged, compared to its average volume of 227,961. Thermon Group Holdings, Inc. has a 52 week low of $23.05 and a 52 week high of $33.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.49 and a current ratio of 2.43. The firm has a market cap of $875.89 million, a price-to-earnings ratio of 16.77 and a beta of 1.14. The stock's 50-day simple moving average is $27.27 and its 200 day simple moving average is $27.54.

Thermon Group (NYSE:THR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Thermon Group had a return on equity of 12.65% and a net margin of 10.89%.The business had revenue of $108.90 million for the quarter, compared to the consensus estimate of $122.53 million. During the same quarter in the previous year, the business posted $0.38 EPS. The company's revenue for the quarter was down 5.4% on a year-over-year basis. Thermon Group has set its FY 2026 guidance at 1.770-1.990 EPS. On average, analysts expect that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.