Vestcor Inc Invests $286,000 in Thor Industries, Inc. (NYSE:THO)

Vestcor Inc acquired a new position in shares of Thor Industries, Inc. (NYSE:THO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 3,772 shares of the construction company’s stock, valued at approximately $286,000.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of Thor Industries by 135.6% during the first quarter. UMB Bank n.a. now owns 483 shares of the construction company’s stock worth $37,000 after buying an additional 278 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Thor Industries by 96.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company’s stock worth $61,000 after purchasing an additional 395 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Thor Industries in the fourth quarter worth $201,000. Oxford Asset Management LLP acquired a new stake in Thor Industries in the fourth quarter worth $217,000. Finally, Neo Ivy Capital Management grew its holdings in Thor Industries by 11.7% in the fourth quarter. Neo Ivy Capital Management now owns 2,451 shares of the construction company’s stock worth $234,000 after purchasing an additional 257 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Thor Industries Stock Up 2.2%

Thor Industries stock opened at $93.28 on Tuesday. Thor Industries, Inc. has a 1-year low of $63.15 and a 1-year high of $118.85. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.81 and a beta of 1.21. The firm’s fifty day moving average price is $89.17 and its two-hundred day moving average price is $86.45. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

Thor Industries (NYSE:THO) last released its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm earned $2.13 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Thor Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

Thor Industries declared that its board has authorized a share repurchase plan on Monday, June 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Thor Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries’s dividend payout ratio (DPR) is presently 47.96%.

Insider Buying and Selling at Thor Industries

In other news, Director Peter Busch Orthwein purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average cost of $85.40 per share, with a total value of $256,200.00. Following the completion of the transaction, the director directly owned 136,400 shares of the company’s stock, valued at approximately $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

THO has been the subject of a number of research reports. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a “neutral” rating in a report on Monday, June 9th. Truist Financial raised their price target on shares of Thor Industries from $72.00 to $78.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. DA Davidson upgraded shares of Thor Industries to a “hold” rating in a report on Monday, April 14th. Wall Street Zen upgraded shares of Thor Industries from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, KeyCorp upgraded shares of Thor Industries from an “underweight” rating to a “sector weight” rating in a report on Friday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.63.

Thor Industries Company 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.