Royal Bank of Canada Sells 51,627 Shares of Thermon Group Holdings, Inc. $THR

Royal Bank of Canada decreased its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 86.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,274 shares of the technology company’s stock after selling 51,627 shares during the period. Royal Bank of Canada’s holdings in Thermon Group were worth $417,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THR. Clifford Capital Partners LLC grew its position in shares of Thermon Group by 2,551.8% during the 4th quarter. Clifford Capital Partners LLC now owns 430,230 shares of the technology company’s stock valued at $15,987,000 after acquiring an additional 414,006 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Thermon Group by 960.3% in the 4th quarter. Janus Henderson Group PLC now owns 250,813 shares of the technology company’s stock worth $9,320,000 after purchasing an additional 227,157 shares during the period. Invesco Ltd. raised its holdings in shares of Thermon Group by 445.3% in the 4th quarter. Invesco Ltd. now owns 273,068 shares of the technology company’s stock worth $10,147,000 after purchasing an additional 222,990 shares during the period. UBS Group AG lifted its stake in Thermon Group by 287.4% in the third quarter. UBS Group AG now owns 288,370 shares of the technology company’s stock valued at $7,705,000 after purchasing an additional 213,935 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in Thermon Group by 13.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,627,257 shares of the technology company’s stock valued at $60,469,000 after purchasing an additional 197,715 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Thermon Group Stock Performance

Shares of THR stock opened at $61.14 on Thursday. The firm’s 50 day moving average is $61.14 and its 200 day moving average is $57.64. The stock has a market capitalization of $2.01 billion, a P/E ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a 12 month low of $23.86 and a 12 month high of $71.87. The company has a current ratio of 2.69, a quick ratio of 1.76 and a debt-to-equity ratio of 0.25.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on THR shares. Weiss Ratings downgraded Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised Thermon Group to a “hold” rating in a research report on Saturday, May 30th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.00.

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.