GW&K Investment Management LLC boosted its holdings in Thermon Group Holdings Inc (NYSE:THR) by 90.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,699 shares of the technology company’s stock after purchasing an additional 91,850 shares during the quarter. GW&K Investment Management LLC owned 0.59% of Thermon Group worth $4,994,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of THR. Albert D Mason Inc. acquired a new stake in Thermon Group in the 3rd quarter worth about $216,000. Nisa Investment Advisors LLC acquired a new position in shares of Thermon Group in the 2nd quarter valued at approximately $235,000. Dupont Capital Management Corp acquired a new position in shares of Thermon Group in the 3rd quarter valued at approximately $371,000. Victory Capital Management Inc. raised its position in shares of Thermon Group by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 16,837 shares of the technology company’s stock valued at $385,000 after buying an additional 2,309 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter.
Several equities analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of Thermon Group from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, November 2nd. SunTrust Banks upgraded shares of Thermon Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $26.00 to $28.00 in a research report on Thursday, November 1st. ValuEngine cut shares of Thermon Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target 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 consensus estimate of $0.24 by ($0.02). The firm had revenue of $90.15 million during the quarter, compared to analyst estimates of $87.25 million. Thermon Group had a net margin of 3.45% and a return on equity of 10.22%. Thermon Group’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, research analysts expect that Thermon Group Holdings Inc will post 1.23 EPS 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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