Verition Fund Management LLC Trims Stock Position in THOR Industries, Inc. (NYSE:THO)

Verition Fund Management LLC lowered its holdings in shares of THOR Industries, Inc. (NYSE:THO) by 93.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,539 shares of the construction company’s stock after selling 53,561 shares during the quarter. Verition Fund Management LLC’s holdings in THOR Industries were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC increased its holdings in THOR Industries by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock worth $27,000 after acquiring an additional 124 shares in the last quarter. Quarry LP purchased a new stake in THOR Industries in the 2nd quarter worth approximately $28,000. UMB Bank n.a. increased its holdings in THOR Industries by 2,050.0% in the 3rd quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. Blue Trust Inc. increased its holdings in THOR Industries by 548.1% in the 2nd quarter. Blue Trust Inc. now owns 337 shares of the construction company’s stock worth $31,000 after acquiring an additional 285 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in THOR Industries in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

THOR Industries Stock Performance

THO stock opened at $105.11 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $108.82 and its two-hundred day simple moving average is $102.97. THOR Industries, Inc. has a twelve month low of $88.37 and a twelve month high of $129.31. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 26.88 and a beta of 1.67.

THOR Industries (NYSE:THO) last released its earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.33. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The business’s revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 earnings per share. Analysts predict that THOR Industries, Inc. will post 4.71 earnings per share for the current year.

THOR Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $0.50 per share. The ex-dividend date was Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.90%. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48. THOR Industries’s dividend payout ratio (DPR) is currently 51.15%.

Analysts Set New Price Targets

THO has been the subject of a number of research analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $95.00 price objective on shares of THOR Industries in a report on Monday, September 30th. Citigroup increased their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Truist Financial increased their price objective on shares of THOR Industries from $95.00 to $105.00 and gave the company a “hold” rating in a report on Friday, September 20th. BMO Capital Markets reiterated an “outperform” rating and set a $120.00 target price on shares of THOR Industries in a research report on Thursday, September 19th. Finally, Benchmark reiterated a “hold” rating on shares of THOR Industries in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, THOR Industries currently has an average rating of “Hold” and a consensus target price of $110.80.

Insider Activity

In other THOR Industries news, VP Colleen A. Zuhl sold 4,354 shares of THOR Industries stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $115.00, for a total value of $500,710.00. Following the transaction, the vice president now owns 131,905 shares in the company, valued at $15,169,075. The trade was a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

THOR Industries 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.