Principal Financial Group Inc. Sells 54,299 Shares of THOR Industries, Inc. (NYSE:THO)

Principal Financial Group Inc. lowered its holdings in THOR Industries, Inc. (NYSE:THO - Free Report) by 30.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,094 shares of the construction company's stock after selling 54,299 shares during the quarter. Principal Financial Group Inc. owned 0.23% of THOR Industries worth $13,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Radnor Capital Management LLC purchased a new stake in shares of THOR Industries during the 3rd quarter valued at about $631,000. QRG Capital Management Inc. boosted its holdings in THOR Industries by 17.5% in the third quarter. QRG Capital Management Inc. now owns 14,584 shares of the construction company's stock worth $1,603,000 after purchasing an additional 2,173 shares during the last quarter. Old North State Wealth Management LLC grew its position in THOR Industries by 4.4% in the 3rd quarter. Old North State Wealth Management LLC now owns 10,514 shares of the construction company's stock worth $1,156,000 after purchasing an additional 440 shares during the period. Forum Financial Management LP purchased a new stake in THOR Industries during the 3rd quarter valued at $227,000. Finally, Van ECK Associates Corp bought a new position in shares of THOR Industries during the 3rd quarter valued at $32,000. 96.71% of the stock is owned by institutional investors.

Insider Buying and Selling at THOR Industries

In related news, VP Colleen A. Zuhl sold 4,354 shares of the stock in a transaction 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 sale, the vice president now 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 filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $120.00 price target on shares of THOR Industries in a research report on Thursday, September 19th. DA Davidson reissued a "neutral" rating and set a $95.00 price objective on shares of THOR Industries in a research report on Monday, September 30th. Truist Financial boosted 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. Citigroup raised 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. Finally, Benchmark reiterated a "hold" rating on shares of THOR Industries in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, THOR Industries currently has a consensus rating of "Moderate Buy" and an average target price of $110.80.

THOR Industries Price Performance

THO traded down $0.05 during trading on Friday, reaching $109.37. 585,180 shares of the company traded hands, compared to its average volume of 519,964. THOR Industries, Inc. has a 12-month low of $88.37 and a 12-month high of $129.31. The firm has a fifty day simple moving average of $107.33 and a 200 day simple moving average of $101.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 1.69. The company has a market cap of $5.81 billion, a P/E ratio of 22.18 and a beta of 1.67.

THOR Industries (NYSE:THO - Get Free Report) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.35 by $0.33. THOR Industries had a net margin of 2.64% and a return on equity of 7.02%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The business's revenue was down 7.4% on a year-over-year basis. On average, equities analysts forecast that THOR Industries, Inc. will post 4.85 EPS for the current year.

THOR Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.83%. The ex-dividend date was Friday, November 1st. This is a boost from THOR Industries's previous quarterly dividend of $0.48. THOR Industries's payout ratio is currently 40.57%.

About THOR Industries

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.