Southpoint Capital Advisors LP Reduces Position in THOR Industries, Inc. (NYSE:THO)

Southpoint Capital Advisors LP lowered its position in THOR Industries, Inc. (NYSE:THO) by 30.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 350,000 shares of the construction company’s stock after selling 150,000 shares during the quarter. Southpoint Capital Advisors LP owned approximately 0.66% of THOR Industries worth $38,462,000 as of its most recent filing with the Securities and Exchange Commission.

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

THOR Industries Stock Performance

NYSE THO opened at $111.60 on Friday. The business has a 50 day moving average price of $108.98 and a 200 day moving average price of $102.51. The company has a market capitalization of $5.93 billion, a P/E ratio of 22.64 and a beta of 1.67. THOR Industries, Inc. has a 1-year low of $88.37 and a 1-year 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.

THOR Industries (NYSE:THO) last announced its quarterly earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.33. The business had revenue of $2.53 billion during 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 business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the business posted $1.68 earnings per share. Sell-side analysts expect that THOR Industries, Inc. will post 4.85 EPS for the current fiscal year.

THOR Industries Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from THOR Industries’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, November 1st. THOR Industries’s dividend payout ratio (DPR) is 40.57%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other THOR Industries news, VP Colleen A. Zuhl sold 4,354 shares of the company’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 transaction, the vice president now directly owns 131,905 shares in the company, valued at approximately $15,169,075. This represents a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.