Thermon Group Holdings, Inc. $THR Stock Position Lessened by Swedbank AB

Key Points

• Swedbank AB reduced its Thermon Group stake by 8.4% in the fourth quarter, selling 64,000 shares and leaving it with 694,000 shares valued at about $25.8 million.
• Analyst sentiment has softened, with multiple firms cutting ratings and the stock now carrying an average Hold rating and a $57.00 target price.
• Thermon Group reported solid quarterly results, topping earnings and revenue estimates with EPS of $0.66 and revenue of $147.31 million, while the stock recently traded near its 52-week high.

Swedbank AB decreased its holdings in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 694,000 shares of the technology company's stock after selling 64,000 shares during the quarter. Swedbank AB owned 2.11% of Thermon Group worth $25,789,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of THR. Royal Bank of Canada grew its stake in shares of Thermon Group by 0.4% in the first quarter. Royal Bank of Canada now owns 258,852 shares of the technology company's stock worth $7,209,000 after purchasing an additional 1,082 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Thermon Group by 66.9% in the first quarter. AQR Capital Management LLC now owns 40,365 shares of the technology company's stock worth $1,124,000 after purchasing an additional 16,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Thermon Group by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,822 shares of the technology company's stock worth $552,000 after purchasing an additional 845 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Thermon Group by 24.9% in the first quarter. Jane Street Group LLC now owns 39,130 shares of the technology company's stock worth $1,090,000 after purchasing an additional 7,798 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Thermon Group by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 264,080 shares of the technology company's stock worth $7,415,000 after purchasing an additional 12,428 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on THR shares. William Blair cut Thermon Group from an "outperform" rating to a "hold" rating in a research note on Wednesday, February 25th. Zacks Research cut Thermon Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Wall Street Zen lowered Thermon Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 1st. Roth Mkm lowered Thermon Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Finally, Craig Hallum lowered Thermon Group from a "strong-buy" rating to a "hold" rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $57.00.

Thermon Group Trading Up 0.5%

Shares of Thermon Group stock opened at $65.66 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.90 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 37.30 and a beta of 0.83. The business has a fifty day simple moving average of $52.30 and a 200-day simple moving average of $43.64. Thermon Group Holdings, Inc. has a fifty-two week low of $23.86 and a fifty-two week high of $71.24.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The business had revenue of $147.31 million during the quarter, compared to analyst estimates of $138.35 million. Thermon Group had a return on equity of 13.82% and a net margin of 11.26%.The company's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, equities analysts forecast that Thermon Group Holdings, Inc. will post 2.13 EPS for the current fiscal year.

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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