Kestra Investment Management LLC Makes New Investment in LCI Industries $LCII

Key Points

• Kestra Investment Management LLC has invested approximately $242,000 in LCI Industries by purchasing 2,767 shares during the first quarter of 2023.
• LCI Industries recently reported $2.39 earnings per share, surpassing analyst expectations of $2.22, and announced a quarterly dividend of $1.15 per share.
• Despite the positive earnings report, several analysts have downgraded LCI Industries, with current ratings showing one "Buy," four "Hold," and one "Sell."

Kestra Investment Management LLC bought a new stake in LCI Industries (NYSE:LCII - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,767 shares of the company's stock, valued at approximately $242,000.

A number of other institutional investors have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd raised its stake in shares of LCI Industries by 84.0% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 8,500 shares of the company's stock valued at $743,000 after purchasing an additional 3,880 shares in the last quarter. Petrus Trust Company LTA acquired a new stake in LCI Industries during the first quarter worth about $807,000. Millennium Management LLC raised its stake in LCI Industries by 482.2% during the first quarter. Millennium Management LLC now owns 635,540 shares of the company's stock worth $55,565,000 after acquiring an additional 526,378 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in LCI Industries by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,759 shares of the company's stock worth $1,290,000 after acquiring an additional 643 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in LCI Industries during the first quarter worth about $8,093,000. Institutional investors and hedge funds own 99.71% of the company's stock.

LCI Industries Trading Down 0.6%

Shares of NYSE:LCII traded down $0.60 during mid-day trading on Monday, hitting $99.76. The stock had a trading volume of 69,167 shares, compared to its average volume of 373,514. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.34 and a current ratio of 2.80. The company has a market cap of $2.42 billion, a PE ratio of 16.67 and a beta of 1.34. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38. The company's 50 day moving average is $100.85 and its 200-day moving average is $92.06.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.22 by $0.17. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.40 EPS. On average, sell-side analysts predict that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, August 29th. LCI Industries's dividend payout ratio is 76.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LCII shares. BMO Capital Markets increased their price objective on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Truist Financial upped their target price on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $103.25.

LCI Industries Profile

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.