Truist Financial Corp Has $667,000 Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

Truist Financial Corp cut its holdings in Thermon Group Holdings, Inc. (NYSE:THR – Get Rating) by 78.4% during the third quarter, Holdings Channel.com reports. The firm owned 43,263 shares of the technology company’s stock after selling 157,239 shares during the quarter. Truist Financial Corp’s holdings in Thermon Group were worth $667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its position in shares of Thermon Group by 134.3% in the first quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock valued at $40,000 after acquiring an additional 1,332 shares during the period. Lazard Asset Management LLC acquired a new stake in Thermon Group during the first quarter worth about $45,000. Amalgamated Bank bought a new position in Thermon Group in the 1st quarter valued at about $64,000. SG Americas Securities LLC acquired a new position in shares of Thermon Group in the 2nd quarter valued at approximately $192,000. Finally, Legal & General Group Plc raised its position in shares of Thermon Group by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 14,028 shares of the technology company’s stock valued at $197,000 after buying an additional 600 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on THR shares. StockNews.com started coverage on shares of Thermon Group in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. TheStreet raised shares of Thermon Group from a “c+” rating to a “b” rating in a research note on Wednesday, November 16th.

Thermon Group Stock Performance

Shares of NYSE:THR opened at $21.55 on Friday. The company’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $17.96. The stock has a market capitalization of $721.77 million, a price-to-earnings ratio of 19.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.13 and a quick ratio of 1.35. Thermon Group Holdings, Inc. has a 1 year low of $13.26 and a 1 year high of $22.28.

Thermon Group (NYSE:THR – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $100.56 million for the quarter, compared to analysts’ expectations of $90.80 million. Thermon Group had a net margin of 9.39% and a return on equity of 11.13%. As a group, research analysts predict that Thermon Group Holdings, Inc. will post 1.35 EPS for the current fiscal year.

Thermon Group Profile

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Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, tubing bundles, and system accessories, as well as strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and gas heating accessories that comprise regulators, valves, mounting brackets, and battery cables.