Lennox International Inc. (NYSE:LII) Sees Significant Decline in Short Interest

Lennox International Inc. (NYSE:LII) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 877,300 shares, a decline of 5.6% from the October 15th total of 929,000 shares. Based on an average daily volume of 320,500 shares, the short-interest ratio is presently 2.7 days. Approximately 2.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

LII has been the subject of a number of recent analyst reports. Royal Bank of Canada assumed coverage on shares of Lennox International in a report on Wednesday, August 16th. They set a “sector perform” rating and a $391.00 price target for the company. Robert W. Baird raised their target price on Lennox International from $375.00 to $400.00 in a report on Friday, July 28th. KeyCorp lifted their price target on Lennox International from $400.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Morgan Stanley increased their price objective on Lennox International from $378.00 to $407.00 and gave the company an “equal weight” rating in a research report on Friday, September 22nd. Finally, Barclays boosted their target price on shares of Lennox International from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $392.09.

Insider Activity at Lennox International

In other Lennox International news, CFO Joseph William Reitmeier sold 7,539 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $393.70, for a total transaction of $2,968,104.30. Following the transaction, the chief financial officer now directly owns 23,986 shares of the company’s stock, valued at $9,443,288.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Chris Kosel sold 100 shares of Lennox International stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $370.88, for a total value of $37,088.00. Following the transaction, the chief accounting officer now owns 1,946 shares of the company’s stock, valued at $721,732.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Joseph William Reitmeier sold 7,539 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $393.70, for a total transaction of $2,968,104.30. Following the sale, the chief financial officer now directly owns 23,986 shares of the company’s stock, valued at $9,443,288.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,007 shares of company stock valued at $4,620,119. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Lennox International

Several large investors have recently modified their holdings of the stock. Desjardins Global Asset Management Inc. lifted its position in shares of Lennox International by 9.2% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 662 shares of the construction company’s stock worth $166,000 after buying an additional 56 shares during the period. Symmetry Partners LLC bought a new position in shares of Lennox International during the second quarter valued at $750,000. Carmignac Gestion boosted its stake in shares of Lennox International by 79.1% in the 1st quarter. Carmignac Gestion now owns 1,967 shares of the construction company’s stock valued at $494,000 after purchasing an additional 869 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Lennox International by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 101,530 shares of the construction company’s stock worth $33,106,000 after purchasing an additional 2,351 shares during the last quarter. Finally, Achmea Investment Management B.V. increased its position in shares of Lennox International by 18.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 79,283 shares of the construction company’s stock worth $25,852,000 after purchasing an additional 12,341 shares in the last quarter. 67.85% of the stock is currently owned by institutional investors.

Lennox International Stock Up 0.4 %

LII opened at $405.11 on Friday. Lennox International has a fifty-two week low of $232.00 and a fifty-two week high of $410.92. The company has a market capitalization of $14.40 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.26 and a beta of 0.96. The company has a debt-to-equity ratio of 7.03, a current ratio of 1.39 and a quick ratio of 0.79. The firm’s fifty day moving average price is $376.52 and its two-hundred day moving average price is $343.79.

Lennox International (NYSE:LII) last issued its earnings results on Thursday, October 26th. The construction company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $4.73 by $0.64. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.28 billion. Lennox International had a net margin of 10.97% and a negative return on equity of 2,262.68%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.10 EPS. On average, analysts anticipate that Lennox International will post 17.7 EPS for the current year.

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. It operates through three segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration.