Raymond James Financial Inc. Invests $755,000 in Thermon Group Holdings, Inc. (NYSE:THR)

Raymond James Financial Inc. bought a new position in Thermon Group Holdings, Inc. (NYSE:THR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,259 shares of the technology company’s stock, valued at approximately $755,000.

A number of other large investors have also bought and sold shares of THR. Assetmark Inc. bought a new position in Thermon Group in the 4th quarter valued at $26,000. Venturi Wealth Management LLC bought a new position in shares of Thermon Group in the fourth quarter valued at about $47,000. Congress Asset Management Co. bought a new position in shares of Thermon Group in the fourth quarter valued at about $227,000. Principal Financial Group Inc. bought a new stake in Thermon Group during the 3rd quarter worth about $481,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Thermon Group by 8.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 18,715 shares of the technology company’s stock valued at $558,000 after acquiring an additional 1,529 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Thermon Group Price Performance

Shares of THR stock opened at $25.10 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28. Thermon Group Holdings, Inc. has a 12 month low of $24.10 and a 12 month high of $35.93. The firm has a market cap of $845.62 million, a price-to-earnings ratio of 18.46 and a beta of 0.98. The stock has a 50-day moving average price of $28.76 and a 200 day moving average price of $29.19.

Thermon Group (NYSE:THR) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. Research analysts expect that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

About Thermon Group

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.