Lennox International Inc. (LII) Sees Unusually-High Trading Volume Following Earnings Beat
Lennox International Inc. (NYSE:LII) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 731,381 shares changed hands during mid-day trading, an increase of 67% from the previous session’s volume of 438,083 shares.The stock last traded at $151.71 and had previously closed at $155.22.
The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1 billion. During the same period in the previous year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.13%. Lennox International’s dividend payout ratio is presently 33.86%.
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Several research firms have issued reports on LII. Zacks Investment Research cut shares of Lennox International from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Morgan Stanley reissued a “hold” rating and issued a $159.00 price objective on shares of Lennox International in a research report on Wednesday, July 20th. Credit Suisse Group AG reissued a “hold” rating on shares of Lennox International in a research report on Saturday, July 9th. Wells Fargo & Co. reissued a “hold” rating on shares of Lennox International in a research report on Wednesday, August 31st. Finally, KeyCorp reissued a “hold” rating on shares of Lennox International in a research report on Monday, October 10th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $143.45.
In other Lennox International news, insider Terry L. Johnston sold 2,113 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $156.35, for a total transaction of $330,367.55. Following the transaction, the insider now owns 19,228 shares in the company, valued at approximately $3,006,297.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph William Reitmeier sold 10,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $150.93, for a total transaction of $1,614,951.00. Following the transaction, the chief financial officer now owns 14,826 shares in the company, valued at approximately $2,237,688.18. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Lennox International by 2.1% in the first quarter. Geode Capital Management LLC now owns 231,542 shares of the company’s stock worth $31,302,000 after buying an additional 4,817 shares during the last quarter. State Street Corp raised its position in shares of Lennox International by 1.4% in the first quarter. State Street Corp now owns 1,501,712 shares of the company’s stock worth $203,018,000 after buying an additional 20,858 shares during the last quarter. Friess Associates LLC bought a new position in shares of Lennox International during the first quarter worth about $7,301,000. Argent Capital Management LLC bought a new position in shares of Lennox International during the second quarter worth about $285,000. Finally, Donaldson Capital Management LLC raised its position in shares of Lennox International by 24.4% in the first quarter. Donaldson Capital Management LLC now owns 22,743 shares of the company’s stock worth $3,075,000 after buying an additional 4,458 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.
The company has a market cap of $6.60 billion, a price-to-earnings ratio of 30.02 and a beta of 1.26. The stock’s 50-day moving average price is $158.76 and its 200 day moving average price is $147.49.
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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