Thor Industries, Inc. $THO Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Thor Industries by 5.9%, now holding 45,668 shares valued at approximately $4.06 million.
• Several institutional investors significantly increased their positions in Thor Industries, highlighting strong interest in the company's stock.
• Thor Industries announced a quarterly dividend increase from $0.50 to $0.52 per share, reflecting a commitment to returning value to shareholders.

Truist Financial Corp lowered its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 5.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,668 shares of the RV manufacturer's stock after selling 2,863 shares during the quarter. Truist Financial Corp owned 0.09% of Thor Industries worth $4,056,000 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 the stock. 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 RV manufacturer's stock valued at $37,000 after purchasing an additional 278 shares during the period. Signaturefd LLC increased its holdings in Thor Industries by 86.6% in the second quarter. Signaturefd LLC now owns 446 shares of the RV manufacturer's stock valued at $40,000 after buying an additional 207 shares in the last quarter. Parallel Advisors LLC increased its holdings in Thor Industries by 198.3% in the second quarter. Parallel Advisors LLC now owns 516 shares of the RV manufacturer's stock valued at $46,000 after buying an additional 343 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Thor Industries by 96.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the RV manufacturer's stock valued at $61,000 after acquiring an additional 395 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Thor Industries by 336.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 785 shares of the RV manufacturer's stock worth $61,000 after acquiring an additional 605 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on THO. Truist Financial raised their price objective on Thor Industries from $86.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. DA Davidson raised their price target on Thor Industries from $78.00 to $102.00 and gave the company a "neutral" rating in a research report on Tuesday, September 30th. Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Roth Capital set a $93.00 price objective on shares of Thor Industries and gave the company a "neutral" rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Thor Industries in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $104.63.

Thor Industries Price Performance

Shares of NYSE:THO opened at $104.96 on Thursday. The company has a market cap of $5.52 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.79 and a beta of 1.35. The business has a fifty day simple moving average of $104.92 and a 200-day simple moving average of $89.84. Thor Industries, Inc. has a 52 week low of $63.15 and a 52 week high of $118.85. The company has a quick ratio of 0.90, a current ratio of 1.75 and a debt-to-equity ratio of 0.21.

Thor Industries announced that its board has initiated a share repurchase plan on Monday, June 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the RV manufacturer to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Thor Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Thor Industries's previous quarterly dividend of $0.50. Thor Industries's dividend 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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