Principal Financial Group Inc. Trims Position in THOR Industries, Inc. (NYSE:THO)

Principal Financial Group Inc. decreased its holdings in shares of THOR Industries, Inc. (NYSE:THO) by 30.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,094 shares of the construction company’s stock after selling 54,299 shares during the period. Principal Financial Group Inc.’s holdings in THOR Industries were worth $13,527,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

THOR Industries Trading Down 0.0 %

Shares of THO opened at $109.37 on Friday. THOR Industries, Inc. has a twelve month low of $88.37 and a twelve month high of $129.31. 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 firm has a market capitalization of $5.81 billion, a P/E ratio of 22.18 and a beta of 1.67. The firm’s 50-day moving average is $107.33 and its two-hundred day moving average is $101.91.

THOR Industries (NYSE:THO) last released its quarterly 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 analysts’ expectations of $2.47 billion. THOR Industries had a return on equity of 7.02% and a net margin of 2.64%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. On average, research analysts predict that THOR Industries, Inc. will post 4.85 earnings per share for the current fiscal 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. This represents a $2.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, November 1st. This is an increase from THOR Industries’s previous quarterly dividend of $0.48. THOR Industries’s payout ratio is 40.57%.

Insider Buying and Selling

In other news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 of the company’s stock, valued at $15,169,075. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.