William Blair Investment Management LLC Lowers Stake in Thermon Group Holdings, Inc. $THR

William Blair Investment Management LLC reduced its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 9.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 887,451 shares of the technology company’s stock after selling 92,897 shares during the period. William Blair Investment Management LLC’s holdings in Thermon Group were worth $32,978,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group in the second quarter valued at about $31,000. Assetmark Inc. raised its stake in Thermon Group by 68.1% during the 3rd quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock valued at $41,000 after acquiring an additional 620 shares during the last quarter. Danske Bank A S purchased a new stake in Thermon Group during the 3rd quarter valued at approximately $45,000. State of Alaska Department of Revenue purchased a new stake in Thermon Group during the 3rd quarter valued at approximately $48,000. Finally, Federated Hermes Inc. raised its stake in Thermon Group by 18.5% during the 3rd quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock valued at $70,000 after acquiring an additional 409 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on THR shares. Craig Hallum downgraded Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. CJS Securities cut Thermon Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 25th. William Blair cut Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th. Roth Mkm cut Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen cut Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.00.

Thermon Group Stock Performance

NYSE THR opened at $65.77 on Monday. Thermon Group Holdings, Inc. has a 1-year low of $23.86 and a 1-year high of $71.24. The company has a market capitalization of $2.16 billion, a P/E ratio of 49.08 and a beta of 0.83. The business has a 50 day moving average price of $56.09 and a 200 day moving average price of $46.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.90 and a quick ratio of 1.84.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Tuesday, May 19th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a net margin of 8.31% and a return on equity of 13.53%. The firm had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $137.85 million. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts expect that Thermon Group Holdings, Inc. will post 2.27 EPS for the current fiscal year.

Thermon Group Company Profile

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.