Kingsview Wealth Management LLC Buys 26,769 Shares of Thor Industries, Inc. (NYSE:THO)

Kingsview Wealth Management LLC raised its stake in shares of Thor Industries, Inc. (NYSE:THO - Free Report) by 664.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 30,799 shares of the construction company's stock after purchasing an additional 26,769 shares during the quarter. Kingsview Wealth Management LLC owned 0.06% of Thor Industries worth $2,335,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in THO. UMB Bank n.a. boosted its position in Thor Industries by 135.6% in the first quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock valued at $37,000 after buying an additional 278 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Thor Industries by 369.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company's stock worth $40,000 after purchasing an additional 329 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Thor Industries during the fourth quarter worth approximately $58,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Thor Industries by 96.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company's stock worth $61,000 after purchasing an additional 395 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Thor Industries during the fourth quarter worth approximately $201,000. Institutional investors own 96.71% of the company's stock.

Thor Industries Stock Performance

THO stock traded up $2.21 during trading hours on Wednesday, reaching $96.39. The stock had a trading volume of 449,960 shares, compared to its average volume of 674,481. The stock has a market capitalization of $5.13 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. The stock has a 50-day simple moving average of $86.90 and a 200 day simple moving average of $86.75. Thor Industries, Inc. has a fifty-two week low of $63.16 and a fifty-two week high of $118.85.

Thor Industries (NYSE:THO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the business earned $2.13 EPS. Thor Industries's quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that Thor Industries, Inc. will post 4.64 EPS for the current fiscal year.

Thor Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries's payout ratio is 47.96%.

Thor Industries declared that its board has authorized a share repurchase plan on Monday, June 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on THO shares. Robert W. Baird downgraded shares of Thor Industries from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $100.00 to $85.00 in a research note on Friday, April 4th. Baird R W downgraded shares of Thor Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a research note on Monday, June 9th. DA Davidson raised shares of Thor Industries to a "hold" rating in a research note on Monday, April 14th. Finally, Truist Financial upped their target price on shares of Thor Industries from $72.00 to $78.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $87.63.

Insiders Place Their Bets

In other news, Director Peter Busch Orthwein acquired 3,000 shares of Thor Industries stock in a transaction dated Friday, June 20th. The shares were bought at an average cost of $85.40 per share, with a total value of $256,200.00. Following the purchase, the director owned 136,400 shares in the company, valued at $11,648,560. This trade represents a 2.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Thor Industries Company 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.