Prudential Financial Inc. Has $5.19 Million Position in LCI Industries (LCII)
Prudential Financial Inc. lessened its stake in LCI Industries (NASDAQ:LCII) by 42.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,693 shares of the company’s stock after selling 37,059 shares during the quarter. Prudential Financial Inc. owned about 0.20% of LCI Industries worth $5,191,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of LCII. Congress Asset Management Co. MA raised its stake in LCI Industries by 11.4% in the second quarter. Congress Asset Management Co. MA now owns 14,950 shares of the company’s stock valued at $1,531,000 after purchasing an additional 1,534 shares in the last quarter. Bowling Portfolio Management LLC raised its stake in LCI Industries by 39.5% in the second quarter. Bowling Portfolio Management LLC now owns 6,892 shares of the company’s stock valued at $706,000 after purchasing an additional 1,953 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in LCI Industries by 4.6% in the second quarter. Great West Life Assurance Co. Can now owns 35,853 shares of the company’s stock valued at $3,667,000 after purchasing an additional 1,569 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in LCI Industries by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 200,000 shares of the company’s stock valued at $20,480,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in LCI Industries by 1.4% in the second quarter. Texas Permanent School Fund now owns 18,183 shares of the company’s stock valued at $1,862,000 after purchasing an additional 259 shares in the last quarter.
LCI Industries (NASDAQ LCII) opened at 105.85 on Tuesday. The firm’s 50-day moving average price is $99.61 and its 200 day moving average price is $98.80. LCI Industries has a 52 week low of $80.65 and a 52 week high of $117.15. The firm has a market cap of $2.64 billion and a P/E ratio of 19.11.
LCI Industries (NASDAQ:LCII) last issued its earnings results on Friday, August 4th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.56 by $0.03. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. The business had revenue of $547.00 million during the quarter, compared to the consensus estimate of $507.56 million. The company’s quarterly revenue was up 24.0% on a year-over-year basis. Equities analysts forecast that LCI Industries will post $5.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.89%.
LCII has been the subject of a number of analyst reports. Zacks Investment Research raised LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Wednesday, July 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 price target on shares of LCI Industries in a research note on Friday, August 25th. Finally, BidaskClub raised LCI Industries from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $112.33.
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In other LCI Industries news, insider Nick C. Fletcher sold 1,617 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $105.44, for a total value of $170,496.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Scott T. Mereness purchased 3,000 shares of the stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $94.50 per share, for a total transaction of $283,500.00. Following the acquisition, the president now owns 204,824 shares in the company, valued at $19,355,868. The disclosure for this purchase can be found here.
LCI Industries Company Profile
LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.
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