Thor Industries, Inc. $THO Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its stake in Thor Industries by 4.8%, now owning 469,724 shares valued at approximately $35.6 million.
• Thor Industries announced a $400 million share buyback program, representing about 8.8% of its shares, suggesting the company believes its stock is undervalued.
• Thor Industries reported $2.53 EPS for the last quarter, exceeding estimates, while also declaring a quarterly dividend of $0.50 per share.

Royal Bank of Canada trimmed its holdings in shares of Thor Industries, Inc. (NYSE:THO - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,724 shares of the construction company's stock after selling 23,490 shares during the period. Royal Bank of Canada owned about 0.88% of Thor Industries worth $35,610,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Crossmark Global Holdings Inc. grew its stake in Thor Industries by 4.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,560 shares of the construction company's stock worth $270,000 after acquiring an additional 145 shares during the period. ProShare Advisors LLC grew its stake in Thor Industries by 7.2% in the 4th quarter. ProShare Advisors LLC now owns 2,485 shares of the construction company's stock worth $238,000 after acquiring an additional 166 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Thor Industries by 3.0% in the 1st quarter. State of Alaska Department of Revenue now owns 6,235 shares of the construction company's stock valued at $472,000 after purchasing an additional 180 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Thor Industries by 2.9% in the 1st quarter. Venturi Wealth Management LLC now owns 6,494 shares of the construction company's stock valued at $492,000 after purchasing an additional 182 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Thor Industries by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the construction company's stock valued at $1,130,000 after purchasing an additional 200 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Peter Busch Orthwein bought 3,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was purchased at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the transaction, the director owned 136,400 shares in the company, valued at approximately $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Thor Industries from $86.00 to $115.00 and gave the company a "hold" rating in a report on Wednesday, September 3rd. Citigroup reiterated a "neutral" rating and issued a $100.00 price target (up previously from $88.00) on shares of Thor Industries in a report on Tuesday, August 12th. Zacks Research upgraded shares of Thor Industries from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Two analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $94.00.

Thor Industries Stock Performance

Shares of NYSE:THO traded down $2.42 during trading on Tuesday, reaching $109.58. 422,355 shares of the company's stock traded hands, compared to its average volume of 763,853. Thor Industries, Inc. has a 12 month low of $63.15 and a 12 month high of $118.85. 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 market capitalization of $5.83 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 2.24 and a beta of 1.34. The company has a 50 day moving average of $99.64 and a 200-day moving average of $87.28.

Thor Industries announced that its Board of Directors has authorized a share repurchase program on Monday, June 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Thor Industries Dividend Announcement

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