Mirae Asset Global Investments Co. Ltd. Purchases 8,710 Shares of Lennox International, Inc. $LII

Key Points

• Mirae Asset Global Investments initiated a position in Lennox International, buying 8,710 shares worth approximately $3.09 million in the third quarter.
• Analyst sentiment is mixed but averages to a Hold: three analysts rate the stock Buy, 11 Hold, and three Sell, with a consensus price target of $444.85. Recent broker actions included downgrades and price-target cuts.
• Lennox reported quarterly EPS of $6.84, below the $7.29 consensus estimate, while revenue of $1.57 billion matched expectations and rose 10.2% year over year.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lennox International, Inc. (NYSE:LII - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,710 shares of the construction company's stock, valued at approximately $3,092,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Burkett Financial Services LLC bought a new stake in Lennox International in the third quarter worth $26,000. SBI Securities Co. Ltd. raised its holdings in Lennox International by 3,500.0% during the third quarter. SBI Securities Co. Ltd. now owns 72 shares of the construction company's stock valued at $26,000 after buying an additional 70 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Lennox International in the second quarter worth about $37,000. Global Retirement Partners LLC acquired a new stake in shares of Lennox International in the second quarter worth about $50,000. Finally, Allworth Financial LP bought a new stake in shares of Lennox International during the 2nd quarter worth about $91,000. Institutional investors and hedge funds own 67.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LII. Zacks Research lowered Lennox International from a "hold" rating to a "strong sell" rating in a report on Friday, October 30th. The Goldman Sachs Group downgraded Lennox International from a "buy" rating to a "neutral" rating and lowered their price target for the company from $547.00 to $390.00 in a report on Wednesday, October 14th. Stephens lowered shares of Lennox International from an "overweight" rating to an "equal weight" rating and set a $350.00 price target on the stock. in a research report on Thursday, October 29th. Mizuho set a $350.00 price objective on shares of Lennox International in a research note on Thursday, October 29th. Finally, Morgan Stanley decreased their price objective on shares of Lennox International from $375.00 to $350.00 and set an "underweight" rating for the company in a report on Thursday, October 15th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lennox International currently has an average rating of "Hold" and a consensus price target of $444.85.

Lennox International Stock Performance

Shares of NYSE:LII traded down $7.06 on Friday, hitting $341.73. 471,838 shares of the company were exchanged, compared to its average volume of 720,143. The company's 50 day moving average price is $363.79 and its two-hundred day moving average price is $467.76. Lennox International, Inc. has a one year low of $322.00 and a one year high of $587.27. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.57 and a current ratio of 1.21. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.97 and a beta of 1.19.

Lennox International (NYSE:LII - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $6.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.29 by ($0.45). The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Lennox International had a net margin of 13.77% and a return on equity of 62.34%. The company's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.98 earnings per share. Research analysts expect that Lennox International, Inc. will post 21.39 earnings per share for the current year.

Lennox International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.36 per share. The ex-dividend date was Wednesday, September 30th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 1.6%. Lennox International's payout ratio is currently 25.24%.

Lennox International Profile

Lennox International Inc is a heating, ventilation, air conditioning and refrigeration company headquartered in Richardson, Texas. Founded in 1895 by Dave Lennox, the company develops and markets products designed to provide climate control and improve indoor air quality in residential and commercial buildings.

Its product portfolio includes air conditioners, heat pumps, furnaces, air handlers, thermostats, indoor air-quality equipment and related controls. Lennox also provides commercial heating and cooling systems, replacement components, installation support and other services through distributors, dealers and contractors.

Lennox primarily serves customers in the United States and Canada, with products and services also marketed in selected international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.