Nisa Investment Advisors LLC cut its holdings in shares of Lennox International, Inc. (NYSE:LII - Free Report) by 8.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,137 shares of the construction company's stock after selling 491 shares during the quarter. Nisa Investment Advisors LLC's holdings in Lennox International were worth $2,881,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. bought a new stake in Lennox International in the first quarter valued at approximately $35,000. Sentry Investment Management LLC acquired a new position in shares of Lennox International during the 1st quarter worth approximately $43,000. Bessemer Group Inc. boosted its position in shares of Lennox International by 50.8% during the 4th quarter. Bessemer Group Inc. now owns 98 shares of the construction company's stock worth $60,000 after acquiring an additional 33 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of Lennox International during the 1st quarter worth approximately $114,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Lennox International by 1,650.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 210 shares of the construction company's stock worth $128,000 after acquiring an additional 198 shares in the last quarter. 67.07% of the stock is owned by institutional investors.
Lennox International Stock Up 0.1%
Lennox International stock traded up $0.39 during midday trading on Friday, hitting $617.77. 250,138 shares of the stock were exchanged, compared to its average volume of 365,451. Lennox International, Inc. has a 52-week low of $500.10 and a 52-week high of $682.50. The stock has a market capitalization of $21.92 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The business's 50-day moving average price is $573.82 and its 200-day moving average price is $584.41. The company has a quick ratio of 0.74, a current ratio of 1.43 and a debt-to-equity ratio of 0.98.
Lennox International (NYSE:LII - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.25 by $0.12. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Lennox International had a net margin of 14.96% and a return on equity of 106.05%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 earnings per share. On average, research analysts expect that Lennox International, Inc. will post 22.94 EPS for the current fiscal year.
Lennox International declared that its board has approved a share buyback program on Thursday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.
Lennox International Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, May 30th will be given a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $5.20 annualized dividend and a dividend yield of 0.84%. This is a positive change from Lennox International's previous quarterly dividend of $1.15. Lennox International's payout ratio is 23.17%.
Insider Activity
In related news, CAO Chris Kosel sold 509 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $568.05, for a total transaction of $289,137.45. Following the completion of the transaction, the chief accounting officer owned 1,582 shares of the company's stock, valued at approximately $898,655.10. The trade was a 24.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.73% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
LII has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Lennox International from $500.00 to $550.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lifted their target price on shares of Lennox International from $455.00 to $549.00 and gave the stock an "underweight" rating in a research note on Friday, May 16th. Barclays lowered their target price on shares of Lennox International from $702.00 to $696.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Robert W. Baird reduced their price target on shares of Lennox International from $608.00 to $600.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Royal Bank Of Canada raised their price target on shares of Lennox International from $580.00 to $582.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Lennox International has a consensus rating of "Hold" and an average price target of $595.23.
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About Lennox International
(
Free Report)
Lennox International Inc, together with its subsidiaries, designs, manufactures, and markets a range of products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. The Home Comfort Solutions segment provides furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, and replacement parts and supplies; residential heating, ventilation, cooling equipment, and air conditioning; and evaporator coils and unit heaters under Lennox, Dave Lennox Signature Collection, Armstrong Air, Ducane, AirEase, Concord, MagicPak, Advanced Distributor Products, Allied, Elite Series, Merit Series, Comfort Sync, Healthy Climate, iComfort, ComfortSense, and Lennox Stores name.
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