Novare Capital Management LLC Boosts Stake in THOR Industries, Inc. (NYSE:THO)

Novare Capital Management LLC grew its stake in THOR Industries, Inc. (NYSE:THO) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,632 shares of the construction company’s stock after buying an additional 1,044 shares during the period. Novare Capital Management LLC owned 0.19% of THOR Industries worth $11,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in THO. Pacer Advisors Inc. raised its holdings in shares of THOR Industries by 35.1% in the second quarter. Pacer Advisors Inc. now owns 1,140,363 shares of the construction company’s stock worth $106,567,000 after buying an additional 296,583 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of THOR Industries by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,901,024 shares of the construction company’s stock worth $271,097,000 after buying an additional 187,019 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of THOR Industries by 12.2% in the second quarter. American Century Companies Inc. now owns 723,910 shares of the construction company’s stock worth $67,649,000 after buying an additional 78,832 shares during the last quarter. ACR Alpine Capital Research LLC raised its holdings in shares of THOR Industries by 4.3% in the second quarter. ACR Alpine Capital Research LLC now owns 1,524,303 shares of the construction company’s stock worth $142,446,000 after buying an additional 62,716 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of THOR Industries by 22.9% in the second quarter. Natixis Advisors LLC now owns 333,678 shares of the construction company’s stock worth $31,182,000 after buying an additional 62,141 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

THO has been the topic of a number of research reports. Citigroup increased their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Truist Financial increased their price objective 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. DA Davidson reiterated a “neutral” rating and issued a $95.00 price objective on shares of THOR Industries in a research note on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of THOR Industries in a research note on Tuesday, October 1st. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.80.

THOR Industries Stock Performance

THO stock traded down $1.13 during midday trading on Monday, hitting $108.69. 72,662 shares of the stock traded hands, compared to its average volume of 497,420. The firm has a market cap of $5.75 billion, a P/E ratio of 22.28 and a beta of 1.67. 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 stock’s fifty day simple moving average is $104.36 and its 200-day simple moving average is $101.38. THOR Industries, Inc. has a 1-year low of $84.54 and a 1-year high of $129.31.

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

THOR Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.50 dividend. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. THOR Industries’s dividend payout ratio (DPR) is 38.95%.

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.