PNC Financial Services Group Inc. Grows Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

PNC Financial Services Group Inc. boosted its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 4,731.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,865 shares of the technology company’s stock after acquiring an additional 3,785 shares during the period. PNC Financial Services Group Inc.’s holdings in Thermon Group were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of THR. Principal Financial Group Inc. bought a new position in shares of Thermon Group during the third quarter valued at $481,000. Victory Capital Management Inc. boosted its position in shares of Thermon Group by 11.1% during the third quarter. Victory Capital Management Inc. now owns 40,000 shares of the technology company’s stock valued at $1,194,000 after buying an additional 4,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Thermon Group by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,428 shares of the technology company’s stock worth $11,382,000 after acquiring an additional 19,083 shares during the period. Algert Global LLC lifted its position in Thermon Group by 56.2% during the third quarter. Algert Global LLC now owns 47,607 shares of the technology company’s stock valued at $1,421,000 after purchasing an additional 17,124 shares during the period. Finally, D.A. Davidson & CO. raised its stake in Thermon Group by 1.8% during the 3rd quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after buying an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Trading Up 4.0 %

Shares of Thermon Group stock opened at $30.49 on Tuesday. Thermon Group Holdings, Inc. has a 1-year low of $25.76 and a 1-year high of $35.93. The company’s fifty day simple moving average is $28.98 and its 200-day simple moving average is $29.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The stock has a market capitalization of $1.03 billion, a PE ratio of 22.42 and a beta of 0.98.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. As a group, equities analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.