Lennox International Inc. (NYSE:LII – Get Rating) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,390,000 shares, a growth of 6.1% from the August 15th total of 1,310,000 shares. Currently, 4.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 320,900 shares, the short-interest ratio is presently 4.3 days.
Insider Activity
In other news, EVP Daniel M. Sessa sold 2,213 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $243.40, for a total value of $538,644.20. Following the completion of the sale, the executive vice president now directly owns 44,156 shares in the company, valued at $10,747,570.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Chris Kosel sold 400 shares of the firm's stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $261.11, for a total transaction of $104,444.00. Following the completion of the sale, the chief accounting officer now directly owns 1,897 shares in the company, valued at $495,325.67. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel M. Sessa sold 2,213 shares of the firm's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $243.40, for a total transaction of $538,644.20. Following the sale, the executive vice president now owns 44,156 shares of the company's stock, valued at $10,747,570.40. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.
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Institutional Trading of Lennox International
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC raised its holdings in Lennox International by 65.3% during the first quarter. Eagle Bay Advisors LLC now owns 157 shares of the construction company's stock worth $40,000 after purchasing an additional 62 shares in the last quarter. NuWave Investment Management LLC raised its holdings in Lennox International by 82.1% during the first quarter. NuWave Investment Management LLC now owns 173 shares of the construction company's stock worth $45,000 after purchasing an additional 78 shares in the last quarter. Quent Capital LLC acquired a new stake in Lennox International during the fourth quarter worth approximately $57,000. Tobam increased its holdings in shares of Lennox International by 90.7% in the 1st quarter. Tobam now owns 225 shares of the construction company's stock valued at $58,000 after acquiring an additional 107 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in shares of Lennox International in the 2nd quarter valued at $81,000. Institutional investors and hedge funds own 63.92% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Barclays cut their price objective on shares of Lennox International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research report on Friday, July 8th. The Goldman Sachs Group dropped their price target on shares of Lennox International from $248.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, June 23rd. Credit Suisse Group set a $210.00 price target on shares of Lennox International in a research report on Tuesday, July 19th. Mizuho dropped their price target on shares of Lennox International from $225.00 to $210.00 and set an "underperform" rating for the company in a research report on Monday, July 18th. Finally, Morgan Stanley lifted their price target on shares of Lennox International from $255.00 to $268.00 and gave the company an "equal weight" rating in a research report on Thursday, September 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $244.40.
Lennox International Stock Down 4.2 %
Lennox International stock traded down $10.33 during trading on Tuesday, reaching $235.26. The stock had a trading volume of 19,816 shares, compared to its average volume of 303,799. Lennox International has a 52-week low of $182.85 and a 52-week high of $334.78. The business has a 50 day moving average price of $243.04 and a 200 day moving average price of $233.58. The stock has a market cap of $8.34 billion, a PE ratio of 18.99 and a beta of 0.93.
Lennox International (NYSE:LII – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.74 by $0.26. Lennox International had a net margin of 10.69% and a negative return on equity of 134.81%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $4.57 earnings per share. The firm's quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Lennox International will post 14.23 EPS for the current fiscal year.
Lennox International Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $1.06 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $4.24 dividend on an annualized basis and a yield of 1.80%. Lennox International's dividend payout ratio is currently 32.79%.
About Lennox International
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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. It operates through three segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration.
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