Thor Industries, Inc. $THO Shares Acquired by Southpoint Capital Advisors LP

Key Points

• Southpoint Capital Advisors LP increased its holdings in Thor Industries by 106.2%, owning 1,250,000 shares, which account for about 2.2% of its total portfolio.
• Thor Industries reported a quarterly earnings per share (EPS) of $2.53, surpassing analyst expectations and showcasing a revenue increase, signaling strong financial performance.
• The company has authorized a stock buyback plan of $400 million, allowing it to repurchase up to 8.8% of its shares, indicating that the board believes the stock is undervalued.

Southpoint Capital Advisors LP raised its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 106.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,250,000 shares of the construction company's stock after acquiring an additional 643,851 shares during the quarter. Thor Industries accounts for about 2.2% of Southpoint Capital Advisors LP's holdings, making the stock its 23rd biggest position. Southpoint Capital Advisors LP owned about 2.35% of Thor Industries worth $94,762,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in THO. UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 278 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Thor Industries by 96.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company's stock valued at $61,000 after buying an additional 395 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Thor Industries by 336.1% in the first quarter. Smartleaf Asset Management LLC now owns 785 shares of the construction company's stock valued at $61,000 after buying an additional 605 shares in the last quarter. Quarry LP acquired a new stake in shares of Thor Industries during the 1st quarter valued at approximately $94,000. Finally, NBC Securities Inc. boosted its stake in shares of Thor Industries by 135,500.0% during the 1st quarter. NBC Securities Inc. now owns 2,712 shares of the construction company's stock worth $205,000 after acquiring an additional 2,710 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter Busch Orthwein bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the transaction, the director owned 136,400 shares in the company, valued at $11,648,560. The trade was a 2.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on THO shares. Citigroup reaffirmed a "neutral" rating and issued a $100.00 price objective (up from $88.00) on shares of Thor Industries in a research note on Tuesday, August 12th. Wall Street Zen raised Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Roth Capital set a $77.00 price target on Thor Industries and gave the company a "neutral" rating in a research report on Monday, June 9th. Truist Financial boosted their price objective on shares of Thor Industries from $72.00 to $78.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. Finally, KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $89.38.

Thor Industries Stock Down 0.0%

Shares of NYSE:THO opened at $109.71 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.84 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.20 and a beta of 1.33. Thor Industries, Inc. has a 52-week low of $63.15 and a 52-week high of $118.85. The stock's fifty day simple moving average is $97.05 and its 200-day simple moving average is $86.83.

Thor Industries (NYSE:THO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.74. The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.60 billion. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%.The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. Thor Industries has set its FY 2025 guidance at 3.300-4.000 EPS. As a group, equities research analysts forecast that Thor Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

Thor Industries declared that its Board of Directors has authorized a stock buyback plan on Monday, June 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Thor Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries's payout ratio is currently 47.96%.

About Thor Industries

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.

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