Regency Capital Management Increases Stake in Lennox International by 21.9%

Regency Capital Management Inc. has significantly increased its investment in Lennox International, Inc. (NYSE:LII), raising its holdings by 21.9% during the third quarter of 2023. According to data from HoldingsChannel, the firm now owns 5,788 shares of the construction and climate control company, having acquired an additional 1,038 shares during this period. This investment accounts for approximately 1.5% of Regency’s overall portfolio, making Lennox International its 27th largest holding.

At the close of the most recent quarter, Regency Capital’s stake in Lennox International was valued at approximately $3,064,000. Other institutional investors are also adjusting their positions in Lennox International, indicating a growing interest in the company’s shares. For example, AdvisorShares Investments LLC entered a new position valued at around $25,000, while Thurston Springer Miller Herd & Titak Inc. increased its holdings by 175.9%, now owning 80 shares worth $46,000.

Market Performance and Financial Metrics

As of the latest trading session, shares of Lennox International opened at $485.91, experiencing a 1.6% decrease. The company maintains a debt-to-equity ratio of 0.78 and exhibits solid liquidity with a current ratio of 1.68 and a quick ratio of 0.80. Lennox International’s stock has fluctuated between a low of $443.19 and a high of $689.44 over the past year. Currently, the company has a market capitalization of $17.04 billion and a price-to-earnings (P/E) ratio of 20.51.

In addition to its stock performance, Lennox International recently announced a quarterly dividend of $1.30, set to be paid on January 15, 2024. Shareholders on record by December 31, 2023 will receive this payment, which represents an annualized yield of 1.1% and a payout ratio of 21.95%.

Analyst Insights and Insider Activity

Recent analyst reviews have mixed sentiments towards Lennox International. Wolfe Research upgraded the company’s rating from “underperform” to “peer perform” on November 13, 2023. In contrast, Royal Bank of Canada adjusted its price target from $598.00 to $555.00, maintaining a “sector perform” rating. Similarly, UBS Group reduced its price target from $610.00 to $560.00, while Oppenheimer lowered its target from $730.00 to $675.00.

Currently, four analysts rate Lennox International as a “Buy,” nine recommend holding, and two suggest selling. According to MarketBeat.com, the consensus rating is “Hold,” with an average price target of $596.83.

In insider trading news, Director Todd J. Teske sold 600 shares on November 11, 2023, at an average price of $491.85, resulting in a total transaction of $295,110.00. Following this sale, Teske owns 7,581 shares valued at approximately $3,728,714.85, marking a 7.33% reduction in his holdings. Currently, insiders hold 9.73% of the company’s stock.

Lennox International, founded in 1895, is a global manufacturer specializing in residential and commercial heating, ventilation, and air conditioning (HVAC) products. The company produces a wide range of products, including furnaces, air conditioners, and heat pumps, and provides aftermarket parts and technical support to its partners.

For more information on Lennox International and its market performance, visit HoldingsChannel.com for the latest institutional filings and insider trades.