3,772 Shares in Thor Industries, Inc. (NYSE:THO) Acquired by Vestcor Inc

Key Points

• Vestcor Inc has acquired a new position in Thor Industries, Inc., purchasing 3,772 shares valued at approximately $286,000 during the first quarter.
• Thor Industries recently announced a $400 million stock buyback program, signaling that its leadership believes the stock is undervalued.
• The company reported a robust quarterly earnings performance, with an EPS of $2.53, surpassing expectations by $0.74, alongside a year-over-year revenue increase of 3.3%.

Vestcor Inc bought a new stake in shares of Thor Industries, Inc. (NYSE:THO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,772 shares of the construction company's stock, valued at approximately $286,000.

Several other large investors have also recently modified their holdings of the stock. UMB Bank n.a. lifted its stake in shares of Thor Industries by 135.6% during the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock worth $37,000 after purchasing an additional 278 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 purchasing an additional 395 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Thor Industries in the fourth quarter worth about $201,000. NBC Securities Inc. boosted its stake in shares of Thor Industries by 135,500.0% in the first quarter. NBC Securities Inc. now owns 2,712 shares of the construction company's stock worth $205,000 after buying an additional 2,710 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in shares of Thor Industries in the fourth quarter worth about $217,000. Institutional investors own 96.71% of the company's stock.

Thor Industries Stock Down 0.3%

NYSE THO traded down $0.24 during trading on Friday, reaching $95.60. 180,579 shares of the company's stock were exchanged, compared to its average volume of 764,269. The company has a 50 day moving average price of $89.97 and a two-hundred day moving average price of $86.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71. Thor Industries, Inc. has a 1 year low of $63.15 and a 1 year high of $118.85. The stock has a market cap of $5.09 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21.

Thor Industries (NYSE:THO - Get Free Report) last posted its earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.74. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The business's revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Thor Industries, Inc. will post 4.64 EPS for the current fiscal year.

Thor Industries declared that its board has initiated a stock buyback program on Monday, June 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Thor Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, July 1st. Thor Industries's payout ratio is 47.96%.

Insider Transactions at Thor Industries

In related news, Director Peter Busch Orthwein acquired 3,000 shares of Thor Industries stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $85.40 per share, with a total value of $256,200.00. Following the purchase, the director directly owned 136,400 shares in the company, valued at approximately $11,648,560. The trade was a 2.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp upgraded Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. 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 report on Monday, June 9th. DA Davidson raised Thor Industries to a "hold" rating in a research note on Monday, April 14th. Finally, Truist Financial lifted their price objective on Thor Industries from $72.00 to $78.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Thor Industries has an average rating of "Hold" and an average target price of $87.63.

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.