Thermon Group Holdings, Inc. (NYSE:THR) Shares Bought by Riverpoint Wealth Management Holdings LLC

Riverpoint Wealth Management Holdings LLC boosted its position in Thermon Group Holdings, Inc. (NYSE:THR) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 47,862 shares of the technology company’s stock after buying an additional 805 shares during the period. Thermon Group accounts for approximately 0.4% of Riverpoint Wealth Management Holdings LLC’s holdings, making the stock its 26th biggest holding. Riverpoint Wealth Management Holdings LLC’s holdings in Thermon Group were worth $1,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in Thermon Group during the 4th quarter valued at approximately $47,000. Congress Asset Management Co. bought a new stake in Thermon Group in the fourth quarter valued at $227,000. Principal Financial Group Inc. acquired a new position in shares of Thermon Group during the third quarter valued at $481,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Thermon Group by 8.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 18,715 shares of the technology company’s stock valued at $558,000 after acquiring an additional 1,529 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Thermon Group by 2.1% during the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock worth $595,000 after acquiring an additional 422 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Thermon Group Stock Performance

Shares of NYSE THR opened at $29.57 on Wednesday. Thermon Group Holdings, Inc. has a 1 year low of $25.76 and a 1 year high of $35.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. The stock has a fifty day moving average price of $28.83 and a two-hundred day moving average price of $29.30. The firm has a market cap of $996.31 million, a P/E ratio of 21.74 and a beta of 1.10.

Thermon Group (NYSE:THR) last announced its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. Research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Insider Transactions at Thermon Group

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the sale, the senior vice president now owns 57,773 shares in the company, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.