Lennox International said on July 14, 2023 that its board of directors had declared a regular quarterly dividend of $1.10 per share ($4.40 annualized). Previously, the company paid $1.10 per share.
Shares must be purchased before the ex-div date of August 30, 2023 to be eligible for the dividend. Shareholders of record as of August 31, 2023 will receive payment on September 15, 2023.
At the current share price of $330.96/share, the dividend yield of the stock is 1.33%.
Looking back five years and taking a sample each week, the average dividend yield was 1.30%, the low 0.87% and the high 2.15%. The standard deviation of returns is 0.27 (n=235).
The current dividend yield is 0.09 standard deviation above the historical average.
Additionally, the company’s dividend payout ratio is 0.29. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.38%, demonstrating that it has increased its dividend over time.
What is fund sentiment?
There are 841 funds or institutions reporting positions in Lennox International. This is a decrease of 5 owner(s) or 0.59% in the last quarter. Average portfolio weight of all funds dedicated to LII is 0.23%, an increase of 8.89%. The total number of shares held by institutions has decreased by 5.26% over the past three months to 28,519,000 shares. 
LII’s put/call ratio is 0.70, indicating a bullish outlook.
Analyst price forecast suggests 9.61% drop
As of July 6, 2023, the one-year average price target for Lennox International was 299.15. The forecast ranges from a low of 255.53 to a high of $372.75. The average price target represents a decline of 9.61% from its last published closing price of 330.96.
Check out our ranking of companies with the biggest upward price target.
The forecast annual turnover for Lennox International is 4,825 million, an increase of 1.48%. Projected annual non-GAAP EPS is 14.94.
What are the other shareholders doing?
Kayne Anderson Rudnick Investment Management owns 1,358,000 shares representing 3.83% ownership of the company. In its previous filing, the company stated that it holds 1,257,000 shares, representing a raise of 7.46%. The company increase its LII portfolio allocation of 6.98% in the last quarter.
Mather Group, LLC. holds 1,241,000 shares representing 3.50% of the company’s capital. No change in the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 996,000 shares representing 2.80% ownership of the company. In its previous filing, the company said it held 996,000 shares, representing a decrease by 0.01%. The company increase its LII portfolio allocation by 0.52% in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 987,000 shares representing 2.78% ownership of the company. In its previous filing, the company said it held 968,000 shares, representing a raise of 1.94%. The company decreases its LII portfolio allocation by 1.09% in the last quarter.
Wellington Management Group Llp holds 918,000 shares representing 2.59% ownership of the company. In its previous filing, the company said it held 986,000 shares, representing a decrease of 7.32%. The company decreases its LII portfolio allocation by 3.27% in the last quarter.
General information about Lennox International
(This description is provided by the company.)
Lennox International Inc. is a world leader in energy-efficient air conditioning solutions. Dedicated to sustainability and creating comfortable, healthier environments for its residential and commercial customers while reducing their carbon footprint, the company is at the forefront of innovation with its air conditioning, heating, indoor air quality and refrigeration systems.
Further reading:
- LENNOX INTERNATIONAL INC. AND SUBSIDIARIES Consolidated Statements of Income (Amounts in millions, except per share data) For the three months ended March 31 2023 2022 Net sales $1,049.4 $1,013.4 Cost of goods sold 742.8 745.2 Gross profit 306
- First Amendment to Credit Agreement, dated April 14, 2023, between Lennox International Inc., the lenders parties thereto, and JPMorgan Chase Bank, NA, as Administrative Agent.
- Addendum No. 12 to Amended and Restated Receivables Purchase Agreement, dated April 14, 2023, between LPAC Corp., as Seller, Lennox Industries Inc., as Principal, Lennox International Inc., Victory Receivables Corporation, as Buyer, MUFG Bank, Ltd., formerly The Bank of Tokyo-Mitsubishi UFJ, Ltd., as Administrative Agent for Investors, Buyer Agent for the MUFG Buyer Group and a MUFG Liquidity Bank, Wells Fargo Bank, NA, as Buyer Agent for the WFB Buyer Group and a WFB Liquidity Bank, and PNC Bank, NA, as Buyer Agent for the PNC Buyer Group and a PNC Liquidity Bank, including attachments.
- Subsidiaries of LII (filed herewith).
- List of Guarantor Subsidiaries (filed as Exhibit 22.1 to LII’s Annual Report on Form 10-K filed February 21, 2023 and incorporated herein by reference).
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.