Lennox International (NYSE:LII) Announces Earnings Results

Lennox International (NYSE:LII) released its quarterly earnings data on Wednesday. The construction company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.17 by $0.30, reports. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Lennox International had a net margin of 12.38% and a return on equity of 303.36%. Lennox International updated its FY 2024 guidance to 19.000-20.000 EPS and its FY24 guidance to $19.00-20.00 EPS.

Lennox International Stock Performance

NYSE LII opened at $475.50 on Friday. Lennox International has a 52-week low of $256.74 and a 52-week high of $501.72. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.72 and a current ratio of 1.43. The company has a market capitalization of $16.94 billion, a P/E ratio of 27.56, a P/E/G ratio of 2.31 and a beta of 1.02. The company has a fifty day moving average of $471.81 and a 200-day moving average of $434.88.

Lennox International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $1.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 0.93%. Lennox International’s dividend payout ratio (DPR) is currently 25.49%.

Insider Transactions at Lennox International

In other Lennox International news, EVP Joseph William Reitmeier sold 1,930 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $471.48, for a total value of $909,956.40. Following the completion of the sale, the executive vice president now directly owns 24,533 shares of the company’s stock, valued at $11,566,818.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lennox International news, EVP Gary S. Bedard sold 1,849 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $473.59, for a total value of $875,667.91. Following the transaction, the executive vice president now owns 20,465 shares in the company, valued at $9,692,019.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph William Reitmeier sold 1,930 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $471.48, for a total transaction of $909,956.40. Following the completion of the transaction, the executive vice president now owns 24,533 shares in the company, valued at approximately $11,566,818.84. The disclosure for this sale can be found here. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lennox International

Several hedge funds and other institutional investors have recently modified their holdings of LII. Forsta AP Fonden increased its position in shares of Lennox International by 11.8% during the third quarter. Forsta AP Fonden now owns 22,700 shares of the construction company’s stock valued at $8,500,000 after buying an additional 2,400 shares during the period. Strs Ohio bought a new position in Lennox International during the third quarter valued at approximately $1,386,000. Nisa Investment Advisors LLC raised its position in Lennox International by 4.8% in the third quarter. Nisa Investment Advisors LLC now owns 5,537 shares of the construction company’s stock worth $2,073,000 after acquiring an additional 253 shares during the period. RiverFront Investment Group LLC bought a new position in Lennox International in the third quarter worth approximately $1,490,000. Finally, Advisors Preferred LLC bought a new position in Lennox International in the third quarter worth approximately $370,000. Hedge funds and other institutional investors own 67.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Lennox International from $545.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of Lennox International from $481.00 to $510.00 and gave the stock a “sector perform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on shares of Lennox International in a research report on Thursday, February 1st. They set a “buy” rating and a $523.00 target price on the stock. Barclays lifted their target price on shares of Lennox International from $450.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, UBS Group raised their price target on shares of Lennox International from $450.00 to $485.00 and gave the stock a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $482.31.

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.