Quantitative Investment Management LLC Grows Stake in Lennox International, Inc. (LII)
Quantitative Investment Management LLC grew its position in Lennox International, Inc. (NYSE:LII) by 124.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,400 shares of the construction company’s stock after acquiring an additional 66,300 shares during the quarter. Quantitative Investment Management LLC owned about 0.28% of Lennox International worth $21,926,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LII. Schroder Investment Management Group lifted its position in shares of Lennox International by 65.0% in the first quarter. Schroder Investment Management Group now owns 463,778 shares of the construction company’s stock valued at $78,021,000 after acquiring an additional 182,677 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Lennox International in the second quarter valued at approximately $20,855,000. Hilton Capital Management LLC purchased a new position in shares of Lennox International in the second quarter valued at approximately $10,777,000. Congress Asset Management Co. MA lifted its position in shares of Lennox International by 7.6% in the second quarter. Congress Asset Management Co. MA now owns 448,335 shares of the construction company’s stock valued at $82,332,000 after acquiring an additional 31,840 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Lennox International by 162.5% in the first quarter. Russell Investments Group Ltd. now owns 40,348 shares of the construction company’s stock valued at $6,748,000 after acquiring an additional 24,977 shares in the last quarter. Institutional investors and hedge funds own 68.31% of the company’s stock.
Several equities analysts have recently weighed in on the company. BidaskClub downgraded Lennox International from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Morgan Stanley restated an “underweight” rating and issued a $161.00 target price (down previously from $164.00) on shares of Lennox International in a research report on Tuesday, July 25th. Wolfe Research assumed coverage on Lennox International in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Stifel Nicolaus restated a “hold” rating and issued a $171.00 target price on shares of Lennox International in a research report on Thursday, September 7th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $190.00 target price (up previously from $162.50) on shares of Lennox International in a research report on Friday, July 7th. Two equities research 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. The company currently has an average rating of “Hold” and a consensus target price of $177.50.
In related news, VP Chris Kosel sold 357 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $173.51, for a total value of $61,943.07. Following the sale, the vice president now owns 1,379 shares of the company’s stock, valued at approximately $239,270.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David W. Moon sold 2,350 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 112,408 shares in the company, valued at approximately $19,272,351.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,094 shares of company stock worth $2,409,181. 3.60% of the stock is owned by corporate insiders.
Lennox International, Inc. (NYSE:LII) traded down 1.49% during midday trading on Tuesday, hitting $164.75. The company had a trading volume of 113,402 shares. The stock’s 50-day moving average price is $167.12 and its 200-day moving average price is $172.59. Lennox International, Inc. has a 52-week low of $140.97 and a 52-week high of $192.58. The stock has a market cap of $6.95 billion, a PE ratio of 23.73 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 for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $2.53 EPS. Lennox International’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Lennox International, Inc. will post $8.00 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, September 28th. Lennox International’s payout ratio is currently 29.35%.
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Lennox International Company Profile
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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