Lennox International Inc. (NYSE:LII) was the target of unusually large options trading activity on Monday. Traders bought 2,007 put options on the stock. This represents an increase of 1,601% compared to the typical volume of 118 put options.
LII has been the subject of several research reports. Cowen reiterated a “buy” rating and set a $190.00 price objective on shares of Lennox International in a research note on Monday, October 23rd. Stifel Nicolaus lifted their price objective on shares of Lennox International from $187.00 to $192.00 and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Credit Suisse Group reiterated a “neutral” rating and set a $180.00 price objective (up from $171.00) on shares of Lennox International in a research note on Tuesday, October 24th. Morgan Stanley lifted their price objective on shares of Lennox International from $166.00 to $169.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 24th. Finally, Robert W. Baird restated a “buy” rating on shares of Lennox International in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Lennox International presently has an average rating of “Hold” and an average price target of $201.43.
Lennox International (NYSE:LII) traded up $3.70 during midday trading on Wednesday, reaching $203.73. 273,022 shares of the company were exchanged, compared to its average volume of 305,575. The firm has a market capitalization of $8,430.38, a P/E ratio of 28.24, a PEG ratio of 1.00 and a beta of 1.17. Lennox International has a 52 week low of $157.37 and a 52 week high of $223.05. The company has a quick ratio of 1.00, a current ratio of 1.74 and a debt-to-equity ratio of 19.37.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.51 per share. The ex-dividend date was Thursday, December 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.00%. Lennox International’s dividend payout ratio is presently 28.53%.
Lennox International declared that its board has initiated a share repurchase plan on Wednesday, December 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, Chairman Todd M. Bluedorn sold 12,901 shares of Lennox International stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $210.95, for a total transaction of $2,721,465.95. Following the completion of the sale, the chairman now directly owns 183,360 shares in the company, valued at $38,679,792. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Prakash Bedapudi sold 3,201 shares of Lennox International stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $196.25, for a total transaction of $628,196.25. The disclosure for this sale can be found here. Insiders have sold 31,890 shares of company stock valued at $6,526,081 over the last quarter. Insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LII. Ameriprise Financial Inc. lifted its position in Lennox International by 160.0% during the third quarter. Ameriprise Financial Inc. now owns 290,008 shares of the construction company’s stock valued at $51,905,000 after purchasing an additional 178,481 shares during the period. State Street Corp increased its holdings in Lennox International by 10.2% in the second quarter. State Street Corp now owns 1,383,849 shares of the construction company’s stock valued at $254,122,000 after buying an additional 128,170 shares in the last quarter. Impax Asset Management LTD increased its holdings in Lennox International by 168.6% in the fourth quarter. Impax Asset Management LTD now owns 135,574 shares of the construction company’s stock valued at $28,235,000 after buying an additional 85,097 shares in the last quarter. Fred Alger Management Inc. increased its holdings in Lennox International by 64.1% in the fourth quarter. Fred Alger Management Inc. now owns 189,182 shares of the construction company’s stock valued at $39,399,000 after buying an additional 73,865 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Lennox International by 15.6% in the third quarter. Schroder Investment Management Group now owns 538,915 shares of the construction company’s stock valued at $94,805,000 after buying an additional 72,804 shares in the last quarter. Institutional investors own 68.56% of the company’s stock.
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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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