Lennox International (NYSE:LII) Reaches New 12-Month High After Better-Than-Expected Earnings

Lennox International Inc. (NYSE:LII) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $627.46 and last traded at $618.67, with a volume of 330181 shares. The stock had previously closed at $594.37.

The construction company reported $6.68 earnings per share for the quarter, topping analysts’ consensus estimates of $5.95 by $0.73. Lennox International had a net margin of 12.85% and a return on equity of 198.36%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business posted $5.37 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis.

Lennox International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $4.60 annualized dividend and a yield of 0.76%. Lennox International’s dividend payout ratio (DPR) is currently 25.51%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Lennox International from $604.00 to $619.00 and gave the company a “sector perform” rating in a research note on Thursday. Barclays lifted their price target on Lennox International from $575.00 to $624.00 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group raised their price objective on shares of Lennox International from $507.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. KeyCorp lowered shares of Lennox International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 15th. Finally, Mizuho raised their price target on shares of Lennox International from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $583.92.

Insider Activity at Lennox International

In other Lennox International news, EVP Prakash Bedapudi sold 5,374 shares of Lennox International stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $584.00, for a total value of $3,138,416.00. Following the completion of the transaction, the executive vice president now directly owns 16,162 shares of the company’s stock, valued at $9,438,608. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Sherry Buck sold 500 shares of Lennox International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $583.47, for a total value of $291,735.00. Following the completion of the transaction, the director now directly owns 2,193 shares in the company, valued at approximately $1,279,549.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Prakash Bedapudi sold 5,374 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $584.00, for a total value of $3,138,416.00. Following the sale, the executive vice president now owns 16,162 shares in the company, valued at approximately $9,438,608. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,308 shares of company stock worth $6,563,103. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lennox International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in Lennox International by 36.0% in the third quarter. Nisa Investment Advisors LLC now owns 6,776 shares of the construction company’s stock worth $4,104,000 after acquiring an additional 1,792 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Lennox International by 87.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 229 shares of the construction company’s stock worth $138,000 after purchasing an additional 107 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Lennox International by 167.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 249 shares of the construction company’s stock valued at $150,000 after buying an additional 156 shares during the last quarter. UMB Bank n.a. lifted its holdings in Lennox International by 388.9% during the 3rd quarter. UMB Bank n.a. now owns 88 shares of the construction company’s stock worth $53,000 after buying an additional 70 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Lennox International by 27.8% in the 3rd quarter. GAMMA Investing LLC now owns 326 shares of the construction company’s stock valued at $197,000 after acquiring an additional 71 shares during the last quarter. 67.07% of the stock is owned by institutional investors and hedge funds.

Lennox International Price Performance

The stock has a fifty day moving average of $591.48 and a 200-day moving average of $542.75. The company has a quick ratio of 0.90, a current ratio of 1.60 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 1.82 and a beta of 1.07.

Lennox International Company Profile

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.