Wellington Management Group LLP Trims Position in Thermon Group Holdings, Inc. $THR

Key Points

• Wellington Management Group LLP reduced its stake in Thermon Group Holdings by 4.2%, now owning approximately 1.25 million shares worth $34.76 million.
• Thermon Group's quarterly earnings fell short of estimates, reporting an EPS of $0.36 compared to the expected $0.37, with revenue down 5.4% year-over-year.
• Wall Street analysts have downgraded Thermon Group from a "strong-buy" to a "hold" rating, indicating a shift in market sentiment.

Wellington Management Group LLP decreased its holdings in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,247,921 shares of the technology company's stock after selling 55,109 shares during the period. Wellington Management Group LLP owned about 3.70% of Thermon Group worth $34,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Thermon Group by 127.9% in the fourth quarter. Bank of America Corp DE now owns 73,363 shares of the technology company's stock worth $2,111,000 after acquiring an additional 41,178 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Thermon Group during the first quarter worth $446,000. Rhumbline Advisers grew its stake in shares of Thermon Group by 3.7% during the first quarter. Rhumbline Advisers now owns 48,192 shares of the technology company's stock worth $1,342,000 after purchasing an additional 1,709 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Thermon Group by 221.6% during the first quarter. SG Americas Securities LLC now owns 20,346 shares of the technology company's stock worth $567,000 after purchasing an additional 14,019 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Thermon Group by 10.8% during the fourth quarter. Northern Trust Corp now owns 336,909 shares of the technology company's stock worth $9,693,000 after purchasing an additional 32,755 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Thermon Group Stock Performance

NYSE THR traded up $0.02 during trading hours on Friday, hitting $26.49. The company had a trading volume of 321,936 shares, compared to its average volume of 219,109. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.49 and a current ratio of 2.43. Thermon Group Holdings, Inc. has a 1-year low of $23.05 and a 1-year high of $33.25. The company has a market cap of $875.89 million, a PE ratio of 16.77 and a beta of 1.09. The business has a 50 day moving average of $27.27 and a 200-day moving average of $27.56.

Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Thermon Group had a net margin of 10.89% and a return on equity of 12.65%. The company had revenue of $108.90 million during the quarter, compared to analyst estimates of $122.53 million. During the same quarter in the prior year, the company earned $0.38 EPS. The business's revenue was down 5.4% on a year-over-year basis. Thermon Group has set its FY 2026 guidance at 1.770-1.990 EPS. As a group, equities research analysts expect that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Thermon Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th.

About Thermon Group

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.