Lennox International (NYSE:LII) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Lennox International (NYSE:LII) posted its quarterly earnings data on Wednesday. The construction company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.17 by $0.30, reports. Lennox International had a net margin of 12.38% and a return on equity of 303.36%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. 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 Up 1.6 %

LII stock opened at $475.50 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 3.13. Lennox International has a twelve month low of $256.74 and a twelve month high of $501.72. The company’s 50 day moving average is $471.81 and its two-hundred day moving average is $434.88. The stock has a market cap of $16.94 billion, a P/E ratio of 27.56, a PEG ratio of 2.31 and a beta of 1.02.

Lennox International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued 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 yield of 0.93%. Lennox International’s payout ratio is currently 25.49%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Lennox International from $450.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Stephens reissued an “overweight” rating and issued a $550.00 price objective on shares of Lennox International in a research note on Thursday. Mizuho raised their price objective on shares of Lennox International from $490.00 to $540.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Lennox International in a research note on Thursday, February 1st. They issued a “buy” rating and a $523.00 price objective for the company. Finally, Royal Bank of Canada lifted their price target on shares of Lennox International from $481.00 to $510.00 and gave the stock a “sector perform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $482.31.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Lennox International

Several institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Lennox International by 9.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 73,135 shares of the construction company’s stock worth $35,745,000 after purchasing an additional 6,041 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Lennox International by 33.6% during the 4th quarter. Russell Investments Group Ltd. now owns 44,049 shares of the construction company’s stock worth $19,711,000 after purchasing an additional 11,077 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Lennox International by 2.7% during the 1st quarter. New York State Teachers Retirement System now owns 36,712 shares of the construction company’s stock worth $17,943,000 after purchasing an additional 950 shares in the last quarter. Forsta AP Fonden boosted its position in shares of Lennox International by 11.8% during the 3rd quarter. Forsta AP Fonden now owns 22,700 shares of the construction company’s stock worth $8,500,000 after purchasing an additional 2,400 shares in the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in shares of Lennox International during the 3rd quarter worth $8,067,000. 67.07% of the stock is currently owned by hedge funds and other institutional investors.

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.