Lennox International Inc. (LII) Posts Quarterly Earnings Results
Lennox International Inc. (NYSE:LII) posted its quarterly earnings results on Monday. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.09. Lennox International had a net margin of 6.45% and a return on equity of 692.11%. The firm earned $1.01 billion during the quarter, compared to the consensus estimate of $791.50 million. During the same period in the previous year, the firm posted $1.82 earnings per share.
Lennox International (NYSE:LII) opened at 157.62 on Monday. Lennox International has a 1-year low of $105.65 and a 1-year high of $164.02. The stock has a market capitalization of $6.85 billion, a PE ratio of 31.19 and a beta of 1.26. The firm has a 50-day moving average of $158.88 and a 200-day moving average of $147.17.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Wednesday, September 28th. Lennox International’s payout ratio is 33.86%.
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Several research firms have weighed in on LII. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennox International in a research note on Saturday, July 9th. Zacks Investment Research downgraded shares of Lennox International from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Morgan Stanley reaffirmed a “hold” rating and issued a $159.00 price target on shares of Lennox International in a research note on Wednesday, July 20th. Susquehanna downgraded shares of Lennox International from a “positive” rating to a “neutral” rating and decreased their price target for the company from $172.00 to $163.00 in a research note on Monday, August 15th. Finally, KeyCorp reissued a “hold” rating on shares of Lennox International in a research report on Monday, October 10th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Lennox International currently has an average rating of “Hold” and a consensus target price of $143.45.
In related news, EVP Douglas L. Young sold 4,407 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $157.02, for a total value of $691,987.14. Following the completion of the transaction, the executive vice president now directly owns 64,859 shares in the company, valued at approximately $10,184,160.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David W. Moon sold 4,500 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $151.16, for a total transaction of $680,220.00. Following the completion of the transaction, the executive vice president now owns 106,368 shares of the company’s stock, valued at $16,078,586.88. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of LII. Riverhead Capital Management LLC raised its position in shares of Lennox International by 112.6% in the second quarter. Riverhead Capital Management LLC now owns 15,741 shares of the company’s stock valued at $753,000 after buying an additional 8,338 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Lennox International by 8.2% in the second quarter. Thrivent Financial for Lutherans now owns 5,520 shares of the company’s stock worth $787,000 after buying an additional 420 shares in the last quarter. US Bancorp DE raised its stake in Lennox International by 5.1% in the second quarter. US Bancorp DE now owns 24,702 shares of the company’s stock worth $3,522,000 after buying an additional 1,199 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Lennox International by 3.8% in the second quarter. Lord Abbett & CO. LLC now owns 30,752 shares of the company’s stock worth $4,385,000 after buying an additional 1,119 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Lennox International by 209.0% in the second quarter. Canada Pension Plan Investment Board now owns 58,400 shares of the company’s stock worth $8,328,000 after buying an additional 39,500 shares in the last quarter. Institutional investors own 68.68% of the company’s stock.
Lennox International Company Profile
Lennox International Inc (LII) is a global provider of climate control solutions. The Company designs, manufactures and markets a range of products for the heating, ventilation, air conditioning and refrigeration (HVACR) markets. The Company operates in three segments: Residential Heating & Cooling; Commercial Heating & Cooling, and Refrigeration.
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