Lazard Asset Management LLC Increases Stake in Thermon Group Holdings, Inc. $THR

Lazard Asset Management LLC lifted its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 16.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 147,930 shares of the technology company’s stock after purchasing an additional 20,548 shares during the period. Lazard Asset Management LLC owned about 0.45% of Thermon Group worth $7,456,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in THR. Canada Pension Plan Investment Board purchased a new stake in Thermon Group during the second quarter valued at about $31,000. Danske Bank A S purchased a new position in shares of Thermon Group in the third quarter worth about $45,000. NewEdge Advisors LLC bought a new stake in shares of Thermon Group in the 3rd quarter valued at about $83,000. Nkcfo LLC bought a new stake in shares of Thermon Group in the 4th quarter valued at about $85,000. Finally, BNP Paribas Financial Markets boosted its holdings in Thermon Group by 62.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,236 shares of the technology company’s stock valued at $91,000 after acquiring an additional 1,245 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Performance

Shares of NYSE:THR opened at $61.14 on Friday. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. The company has a 50-day moving average price of $61.81 and a 200-day moving average price of $55.26. The company has a current ratio of 2.69, a quick ratio of 1.76 and a debt-to-equity ratio of 0.25. Thermon Group Holdings, Inc. has a 12 month low of $23.86 and a 12 month high of $71.87.

Thermon Group (NYSE:THR) last posted its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The business had revenue of $148.33 million during the quarter, compared to the consensus estimate of $137.85 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen raised Thermon Group to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings lowered Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.