Lazard Asset Management LLC Buys 20,548 Shares of Thermon Group Holdings, Inc. $THR

Lazard Asset Management LLC raised its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,930 shares of the technology company’s stock after purchasing an additional 20,548 shares during the quarter. Lazard Asset Management LLC’s holdings in Thermon Group were worth $7,456,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in THR. Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group in the 2nd quarter worth about $31,000. Danske Bank A S purchased a new position in shares of Thermon Group during the third quarter valued at about $45,000. Nkcfo LLC purchased a new position in shares of Thermon Group during the fourth quarter valued at about $85,000. Kemnay Advisory Services Inc. bought a new position in Thermon Group in the fourth quarter worth about $98,000. Finally, NewEdge Advisors LLC bought a new position in Thermon Group in the third quarter worth about $83,000. 99.76% of the stock is currently owned by institutional investors.

Thermon Group Price Performance

NYSE:THR opened at $61.14 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.69 and a quick ratio of 1.76. The firm’s 50-day moving average price is $61.81 and its 200-day moving average price is $55.26. The company has a market capitalization of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a 1-year low of $23.86 and a 1-year high of $71.87.

Thermon Group (NYSE:THR) last issued its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. The business had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $137.85 million. During the same period last year, the business earned $0.56 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that Thermon Group Holdings, Inc. will post 2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on THR shares. Weiss Ratings cut Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Thermon Group to a “hold” rating in a research note on Saturday, May 30th. Six research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.