Van Berkom & Associates Inc. Decreases Holdings in Thermon Group Holdings Inc (THR)
Van Berkom & Associates Inc. cut its stake in shares of Thermon Group Holdings Inc (NYSE:THR) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,504,161 shares of the technology company’s stock after selling 27,906 shares during the period. Van Berkom & Associates Inc. owned about 7.68% of Thermon Group worth $64,557,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Thermon Group by 162.7% in the 1st quarter. JPMorgan Chase & Co. now owns 18,267 shares of the technology company’s stock valued at $409,000 after buying an additional 11,314 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Thermon Group in the 2nd quarter valued at approximately $235,000. State of New Jersey Common Pension Fund D acquired a new stake in Thermon Group in the 2nd quarter valued at approximately $1,144,000. Victory Capital Management Inc. increased its position in shares of Thermon Group by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 16,837 shares of the technology company’s stock worth $385,000 after purchasing an additional 2,309 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in shares of Thermon Group during the 2nd quarter worth approximately $457,000.
THR has been the topic of several recent analyst reports. Zacks Investment Research raised Thermon Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. BMO Capital Markets boosted their price target on Thermon Group from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 price target on shares of Thermon Group in a research report on Tuesday, August 7th. Finally, ValuEngine lowered Thermon Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $28.50.
Thermon Group (NYSE:THR) last issued its earnings results on Wednesday, October 31st. The technology company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). The company had revenue of $90.15 million for the quarter, compared to analysts’ expectations of $87.25 million. Thermon Group had a return on equity of 10.22% and a net margin of 3.45%. The business’s revenue was up 46.3% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. As a group, analysts anticipate that Thermon Group Holdings Inc will post 1.23 earnings per share for the current year.
Thermon Group Company Profile
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
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