Wells Fargo & Company MN Trims Stake in THOR Industries, Inc. (NYSE:THO)

Posted by Defense World Staff on Jun 10th, 2023

Wells Fargo & Company MN lessened its holdings in THOR Industries, Inc. (NYSE:THO – Get Rating) by 7.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 619,709 shares of the construction company’s stock after selling 52,342 shares during the period. Wells Fargo & Company MN owned 1.16% of THOR Industries worth $46,782,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Heritage Wealth Management LLC boosted its position in shares of THOR Industries by 138.4% during the 4th quarter. Heritage Wealth Management LLC now owns 7,430 shares of the construction company’s stock valued at $561,000 after acquiring an additional 4,313 shares during the last quarter. Renaissance Technologies LLC lifted its position in THOR Industries by 330.6% during the fourth quarter. Renaissance Technologies LLC now owns 481,800 shares of the construction company’s stock valued at $36,371,000 after purchasing an additional 369,900 shares during the last quarter. Credit Suisse AG grew its stake in THOR Industries by 26.5% in the 4th quarter. Credit Suisse AG now owns 69,969 shares of the construction company’s stock worth $5,282,000 after buying an additional 14,666 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of THOR Industries by 57.5% in the 4th quarter. Neuberger Berman Group LLC now owns 6,200 shares of the construction company’s stock worth $468,000 after buying an additional 2,263 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of THOR Industries by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 736,603 shares of the construction company’s stock valued at $55,606,000 after buying an additional 9,124 shares in the last quarter. Institutional investors own 98.68% of the company’s stock.

THOR Industries Stock Down 0.7 %

Shares of THOR Industries stock opened at $93.51 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.68 and a current ratio of 1.79. THOR Industries, Inc. has a 52-week low of $67.09 and a 52-week high of $105.36. The company’s 50 day moving average price is $80.58 and its 200-day moving average price is $84.21. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 8.97 and a beta of 1.76.

THOR Industries (NYSE:THO – Get Rating) last announced its quarterly earnings results on Tuesday, June 6th. The construction company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $1.17. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.81 billion. THOR Industries had a net margin of 4.63% and a return on equity of 15.13%. The company’s revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the firm earned $6.32 EPS. Equities research analysts forecast that THOR Industries, Inc. will post 6.18 EPS for the current year.

THOR Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 12th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Tuesday, April 11th. THOR Industries’s dividend payout ratio (DPR) is currently 17.27%.

Wall Street Analyst Weigh In

THO has been the topic of a number of research analyst reports. StockNews.com assumed coverage on THOR Industries in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. BMO Capital Markets raised their price objective on THOR Industries from $105.00 to $115.00 in a report on Wednesday. KeyCorp assumed coverage on THOR Industries in a research note on Wednesday, April 19th. They issued a “sector weight” rating for the company. Robert W. Baird lifted their price target on shares of THOR Industries from $95.00 to $110.00 in a research note on Wednesday. Finally, Truist Financial upped their price objective on shares of THOR Industries from $72.00 to $84.00 in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.33.

THOR Industries Company Profile

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Thor Industries, Inc engages in the manufacture and sale of recreational vehicles. It operates through the following segments: North American Towable Recreational Vehicles, North American Motorized Recreational Vehicles, and European Recreational Vehicles. The North American Towable Recreational Vehicles segment includes operating entities such as Airstream, Heartland, Jayco, Keystone, and KZ.