PNC Financial Services Group Inc. Acquires 1,597 Shares of THOR Industries, Inc. (NYSE:THO)

PNC Financial Services Group Inc. boosted its holdings in THOR Industries, Inc. (NYSE:THO) by 10.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,557 shares of the construction company’s stock after purchasing an additional 1,597 shares during the period. PNC Financial Services Group Inc.’s holdings in THOR Industries were worth $1,929,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Cetera Advisors LLC lifted its stake in shares of THOR Industries by 571.3% in the 1st quarter. Cetera Advisors LLC now owns 22,341 shares of the construction company’s stock valued at $2,622,000 after acquiring an additional 19,013 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in THOR Industries by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,901,024 shares of the construction company’s stock valued at $271,097,000 after purchasing an additional 187,019 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of THOR Industries by 51.3% during the third quarter. Natixis Advisors LLC now owns 504,922 shares of the construction company’s stock valued at $55,486,000 after purchasing an additional 171,244 shares during the period. &PARTNERS bought a new position in shares of THOR Industries in the second quarter worth approximately $623,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of THOR Industries by 12.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 387,189 shares of the construction company’s stock worth $36,183,000 after buying an additional 43,326 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at THOR Industries

In other news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $115.00, for a total transaction of $500,710.00. Following the completion of the transaction, the vice president now directly owns 131,905 shares in the company, valued at $15,169,075. This trade represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Citigroup increased their price objective on THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. DA Davidson restated a “neutral” rating and set a $95.00 target price on shares of THOR Industries in a report on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of THOR Industries in a report on Tuesday, October 1st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $120.00 price objective on shares of THOR Industries in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.80.

THOR Industries Stock Performance

Shares of THOR Industries stock opened at $113.15 on Wednesday. THOR Industries, Inc. has a 12 month low of $88.37 and a 12 month high of $129.31. The firm has a market capitalization of $6.01 billion, a P/E ratio of 22.93 and a beta of 1.67. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $108.62 and a two-hundred day simple moving average of $102.33.

THOR Industries (NYSE:THO) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.33. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. THOR Industries had a net margin of 2.64% and a return on equity of 7.02%. THOR Industries’s revenue was down 7.4% on a year-over-year basis. During the same period last year, the company posted $1.68 EPS. On average, equities analysts forecast that THOR Industries, Inc. will post 4.85 earnings per share for the current fiscal year.

THOR Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, November 1st. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48. THOR Industries’s dividend payout ratio (DPR) is 40.57%.

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.