XTX Topco Ltd Invests $277,000 in Thor Industries, Inc. (NYSE:THO)

Key Points

• XTX Topco Ltd made a new investment of approximately $277,000 in Thor Industries, acquiring 3,655 shares of the company during the first quarter.
• Thor Industries has recently received upgrades and price target increases from multiple analysts, with a consensus rating of "Hold" and an average price target of $87.63.
• The company also announced a $400 million share repurchase plan, indicating the board's belief that the stock may be undervalued.

XTX Topco Ltd bought a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,655 shares of the construction company's stock, valued at approximately $277,000.

Other institutional investors also recently modified their holdings of the company. ACR Alpine Capital Research LLC raised its position in Thor Industries by 62.5% in the 1st quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the construction company's stock valued at $264,040,000 after purchasing an additional 1,339,951 shares during the last quarter. Madison Asset Management LLC grew its holdings in shares of Thor Industries by 6.6% during the first quarter. Madison Asset Management LLC now owns 1,065,299 shares of the construction company's stock worth $80,760,000 after purchasing an additional 65,531 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Thor Industries by 15.2% in the first quarter. Envestnet Asset Management Inc. now owns 786,674 shares of the construction company's stock valued at $59,638,000 after buying an additional 103,682 shares in the last quarter. Southpoint Capital Advisors LP raised its holdings in shares of Thor Industries by 73.2% in the fourth quarter. Southpoint Capital Advisors LP now owns 606,149 shares of the construction company's stock valued at $58,015,000 after buying an additional 256,149 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Thor Industries in the fourth quarter valued at about $52,497,000. Institutional investors own 96.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on THO. 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. DA Davidson raised Thor Industries to a "hold" rating in a research note on Monday, April 14th. Roth Capital set a $77.00 target price on Thor Industries and gave the stock a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, KeyCorp upgraded Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Thor Industries presently has a consensus rating of "Hold" and an average price target of $87.63.

Insiders Place Their Bets

In related news, Director Peter Busch Orthwein purchased 3,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the purchase, the director owned 136,400 shares in the company, valued at approximately $11,648,560. This represents a 2.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by company insiders.

Thor Industries Trading Up 0.5%

NYSE THO opened at $95.42 on Tuesday. Thor Industries, Inc. has a 12 month low of $63.15 and a 12 month high of $118.85. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $90.57 and a 200-day moving average of $86.21. The company has a market cap of $5.08 billion, a PE ratio of 22.88, a PEG ratio of 1.90 and a beta of 1.21.

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

Thor Industries Dividend Announcement

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

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

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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