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

Principal Financial Group Inc. trimmed its stake in THOR Industries, Inc. (NYSE:THO) by 30.6% during the third quarter, according to its most recent 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. owned about 0.23% of THOR Industries worth $13,527,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

THO has been the subject of several research reports. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 target price on shares of THOR Industries in a research report on Monday, September 30th. Citigroup lifted 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. Benchmark reiterated a “hold” rating on shares of THOR Industries in a report on Tuesday, October 1st. Truist Financial boosted their price target on shares of THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $120.00 price objective on shares of THOR Industries in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.80.

Insider Activity at THOR Industries

In related news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 131,905 shares in the company, valued at $15,169,075. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.50% of the company’s stock.

THOR Industries Stock Performance

NYSE:THO opened at $109.37 on Friday. THOR Industries, Inc. has a 12 month low of $88.37 and a 12 month high of $129.31. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.82. The firm has a market capitalization of $5.81 billion, a PE ratio of 22.18 and a beta of 1.67. The business’s fifty day moving average price is $107.33 and its 200 day moving average price is $101.91.

THOR Industries (NYSE:THO) last issued its earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share for the quarter, topping the consensus estimate 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 7.02% and a net margin of 2.64%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. On average, sell-side analysts anticipate that THOR Industries, Inc. will post 4.85 earnings per share for the current fiscal year.

THOR Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.50 dividend. This is a boost from THOR Industries’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.83%. THOR Industries’s dividend payout ratio is presently 40.57%.

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.