Sumitomo Mitsui Trust Holdings Inc. Purchases New Stake in Lennox International, Inc. (LII)
Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Lennox International, Inc. (NYSE:LII) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 113,567 shares of the construction company’s stock, valued at approximately $20,855,000. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Lennox International at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in Lennox International by 23.7% in the first quarter. Nordea Investment Management AB now owns 9,865 shares of the construction company’s stock worth $1,650,000 after buying an additional 1,888 shares during the period. Quantitative Investment Management LLC raised its position in Lennox International by 254.0% in the first quarter. Quantitative Investment Management LLC now owns 53,100 shares of the construction company’s stock worth $8,883,000 after buying an additional 38,100 shares during the period. Mutual of America Capital Management LLC raised its position in Lennox International by 4.0% in the first quarter. Mutual of America Capital Management LLC now owns 30,888 shares of the construction company’s stock worth $5,168,000 after buying an additional 1,194 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in Lennox International during the first quarter worth $21,738,000. Finally, Ameriprise Financial Inc. raised its position in Lennox International by 4.7% in the first quarter. Ameriprise Financial Inc. now owns 107,774 shares of the construction company’s stock worth $18,032,000 after buying an additional 4,861 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.
Shares of Lennox International, Inc. (LII) opened at 165.73 on Friday. Lennox International, Inc. has a 52 week low of $140.97 and a 52 week high of $192.58. The company has a 50-day moving average price of $171.08 and a 200 day moving average price of $172.27. The stock has a market capitalization of $6.99 billion, a P/E ratio of 23.87 and a beta of 1.14.
Lennox International (NYSE:LII) last posted its earnings results on Monday, July 24th. The construction company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Lennox International had a return on equity of 1,821.73% and a net margin of 7.92%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. Analysts forecast that Lennox International, Inc. will post $8.01 earnings per share for the current fiscal year.
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A number of equities analysts recently weighed in on the company. Cowen and Company increased their price target on Lennox International from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. BidaskClub raised Lennox International from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Wolfe Research assumed coverage on Lennox International in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Wells Fargo & Company reissued a “market perform” rating and issued a $190.00 price objective (up from $162.50) on shares of Lennox International in a research note on Friday, July 7th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Lennox International in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Lennox International has an average rating of “Hold” and a consensus price target of $179.00.
In other Lennox International news, VP Chris Kosel sold 357 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $173.51, for a total value of $61,943.07. Following the completion of the transaction, the vice president now directly owns 1,379 shares of the company’s stock, valued at $239,270.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David W. Moon sold 2,350 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $171.45, for a total value of $402,907.50. Following the completion of the transaction, the executive vice president now directly owns 112,408 shares of the company’s stock, valued at $19,272,351.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,094 shares of company stock valued at $2,409,181. Insiders own 3.90% of the company’s stock.
About Lennox International
Lennox International Inc is a 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. It operates through three segments: Residential Heating & Cooling; Commercial Heating & Cooling, and Refrigeration.
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