Short Interest in Lennox International, Inc. (NYSE:LII) Rises By 28.1%

Lennox International, Inc. (NYSE:LII - Get Free Report) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,050,000 shares, an increase of 28.1% from the May 15th total of 1,600,000 shares. Based on an average trading volume of 435,500 shares, the days-to-cover ratio is currently 4.7 days. Approximately 6.4% of the shares of the company are sold short.

Lennox International Price Performance

NYSE:LII traded down $6.24 during trading hours on Tuesday, reaching $537.72. The stock had a trading volume of 351,468 shares, compared to its average volume of 363,121. The stock has a market capitalization of $19.08 billion, a PE ratio of 23.96, a PEG ratio of 2.00 and a beta of 1.14. Lennox International has a 52 week low of $500.10 and a 52 week high of $682.50. The company has a 50 day moving average price of $560.82 and a two-hundred day moving average price of $592.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 1.43.

Lennox International (NYSE:LII - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.25 by $0.12. Lennox International had a net margin of 14.96% and a return on equity of 106.05%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the business posted $3.47 earnings per share. Lennox International's quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lennox International will post 22.94 earnings per share for the current fiscal year.

Lennox International declared that its board has authorized a stock buyback plan on Thursday, May 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Lennox International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, May 30th will be issued a $1.30 dividend. This is an increase from Lennox International's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, June 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.97%. Lennox International's dividend payout ratio (DPR) is presently 20.50%.

Insider Activity at Lennox International

In other Lennox International news, CAO Chris Kosel sold 509 shares of the firm'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 sale, the chief accounting officer now owns 1,582 shares in the company, valued at approximately $898,655.10. This trade represents a 24.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Lennox International

Several hedge funds and other institutional investors have recently bought and sold shares of LII. Crestwood Advisors Group LLC bought a new position in Lennox International during the fourth quarter valued at $322,000. Private Trust Co. NA boosted its stake in shares of Lennox International by 62.5% during the 4th quarter. Private Trust Co. NA now owns 117 shares of the construction company's stock worth $71,000 after purchasing an additional 45 shares during the period. Jones Financial Companies Lllp grew its holdings in Lennox International by 487.7% during the 4th quarter. Jones Financial Companies Lllp now owns 429 shares of the construction company's stock valued at $261,000 after purchasing an additional 356 shares during the last quarter. Catalyst Funds Management Pty Ltd raised its position in Lennox International by 200.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 900 shares of the construction company's stock worth $548,000 after purchasing an additional 600 shares during the period. Finally, Sciencast Management LP bought a new stake in Lennox International in the fourth quarter worth about $1,582,000. Hedge funds and other institutional investors own 67.07% of the company's stock.

Wall Street Analysts Forecast Growth

LII has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Lennox International from $455.00 to $549.00 and gave the company an "underweight" rating in a research note on Friday, May 16th. Royal Bank Of Canada boosted their price objective on Lennox International from $580.00 to $582.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. UBS Group dropped their price objective on Lennox International from $625.00 to $570.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Robert W. Baird decreased their target price on Lennox International from $608.00 to $600.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Stephens reissued an "overweight" rating and issued a $750.00 price target on shares of Lennox International in a report on Friday, March 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lennox International currently has an average rating of "Hold" and a consensus target price of $583.71.

About Lennox International

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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