Public Sector Pension Investment Board Has $8.10 Million Stock Position in LCI Industries $LCII

Key Points

• The Public Sector Pension Investment Board increased its holdings in LCI Industries by 46.0% in the first quarter, owning 92,590 shares valued at $8,095,000.
• LCI Industries reported a quarterly earnings per share (EPS) of $2.39, beating estimates by $0.17, alongside a revenue increase of 5.1% year-over-year.
• Analysts have set a new average price target of $103.25 for LCI Industries, with ratings varying from sell to hold across multiple firms.

Public Sector Pension Investment Board grew its position in LCI Industries (NYSE:LCII - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,590 shares of the company's stock after purchasing an additional 29,188 shares during the period. Public Sector Pension Investment Board owned about 0.37% of LCI Industries worth $8,095,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of LCI Industries during the 4th quarter worth $3,526,000. Summit Investment Advisors Inc. increased its position in LCI Industries by 5.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company's stock worth $268,000 after buying an additional 130 shares during the last quarter. Marshall Wace LLP raised its holdings in LCI Industries by 35.8% during the fourth quarter. Marshall Wace LLP now owns 3,785 shares of the company's stock valued at $391,000 after buying an additional 997 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LCI Industries by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock worth $127,904,000 after buying an additional 87,764 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of LCI Industries by 5.4% during the 4th quarter. MetLife Investment Management LLC now owns 14,909 shares of the company's stock worth $1,541,000 after acquiring an additional 769 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Price Performance

Shares of NYSE:LCII traded up $1.62 during trading on Tuesday, reaching $103.85. The stock had a trading volume of 45,587 shares, compared to its average volume of 390,893. The stock has a market capitalization of $2.52 billion, a PE ratio of 17.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The business's 50-day moving average price is $95.94 and its 200 day moving average price is $92.21.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.17. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The business's revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $2.40 EPS. As a group, equities analysts predict that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

LCI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.60 dividend on an annualized basis and a yield of 4.4%. LCI Industries's dividend payout ratio is currently 76.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LCII shares. BMO Capital Markets boosted their target price on LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a report on Wednesday, August 6th. Truist Financial raised their price target on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Robert W. Baird decreased their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $103.25.

LCI Industries Company 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.