Freedom Investment Management Inc. Lowers Stock Holdings in THOR Industries, Inc. (NYSE:THO)

Freedom Investment Management Inc. lowered its position in THOR Industries, Inc. (NYSE:THO) by 17.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,983 shares of the construction company’s stock after selling 638 shares during the quarter. Freedom Investment Management Inc.’s holdings in THOR Industries were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group bought a new position in shares of THOR Industries in the third quarter worth about $38,000. FMR LLC lifted its holdings in THOR Industries by 8.0% in the 3rd quarter. FMR LLC now owns 29,716 shares of the construction company’s stock worth $3,265,000 after purchasing an additional 2,205 shares in the last quarter. Hancock Whitney Corp lifted its holdings in THOR Industries by 12.0% in the 3rd quarter. Hancock Whitney Corp now owns 7,486 shares of the construction company’s stock worth $823,000 after purchasing an additional 800 shares in the last quarter. Raymond James Trust N.A. bought a new position in THOR Industries in the 3rd quarter worth approximately $227,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in THOR Industries by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 601,435 shares of the construction company’s stock valued at $66,092,000 after buying an additional 15,018 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

THOR Industries Trading Up 0.4 %

THO opened at $111.60 on Friday. The stock has a 50-day moving average of $109.15 and a 200 day moving average of $102.55. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. THOR Industries, Inc. has a 12 month low of $88.37 and a 12 month high of $129.31. The firm has a market cap of $5.93 billion, a P/E ratio of 22.64 and a beta of 1.67.

THOR Industries (NYSE:THO) last announced its earnings results on Tuesday, September 24th. The construction company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.33. THOR Industries had a return on equity of 7.02% and a net margin of 2.64%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, research analysts forecast that THOR Industries, Inc. will post 4.85 EPS for the current year.

THOR Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.50 dividend. The ex-dividend date was Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.79%. This is an increase from THOR Industries’s previous quarterly dividend of $0.48. THOR Industries’s dividend payout ratio is currently 40.57%.

Insider Transactions at THOR Industries

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

Analyst Upgrades and Downgrades

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

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.