TD Asset Management Inc Decreases Stock Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

TD Asset Management Inc reduced its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,632 shares of the technology company’s stock after selling 3,800 shares during the quarter. TD Asset Management Inc’s holdings in Thermon Group were worth $2,142,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in shares of Thermon Group in the fourth quarter valued at $167,000. EntryPoint Capital LLC boosted its stake in shares of Thermon Group by 421.1% in the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock valued at $207,000 after purchasing an additional 5,116 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Thermon Group by 9.8% in the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after purchasing an additional 608 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Thermon Group in the first quarter valued at $255,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Thermon Group by 144.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company’s stock valued at $257,000 after purchasing an additional 4,654 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on THR shares. Roth Mkm upped their target price on shares of Thermon Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a research note on Saturday.

Thermon Group Trading Up 2.6 %

NYSE THR opened at $28.85 on Friday. Thermon Group Holdings, Inc. has a 12 month low of $23.76 and a 12 month high of $35.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73. The company has a market capitalization of $975.13 million, a price-to-earnings ratio of 19.23 and a beta of 1.06. The company’s fifty day moving average price is $30.33 and its two-hundred day moving average price is $30.92.

Thermon Group (NYSE:THR) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The firm had revenue of $115.10 million for the quarter, compared to the consensus estimate of $115.99 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current fiscal year.

Thermon Group Company Profile

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 provides 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.