**Lennox International Declares Quarterly Dividend of $1.10 per Share**
Lennox International, a global leader in energy-efficient climate-control solutions, has announced that its board of directors declared a regular quarterly dividend of $1.10 per share, which is equivalent to an annual dividend of $4.40. This represents consistency as the company previously paid $1.10 per share. To qualify for the dividend, shares must be purchased before the ex-dividend date of August 30, 2023. Shareholders of record as of August 31, 2023, will receive the payment on September 15, 2023.
**Historical Dividend Yield Analysis**
The current dividend yield of Lennox International’s stock, at a share price of $330.96, is 1.33%. Looking back over the past five years and analyzing a sample taken every week, the average dividend yield has been 1.30%. The lowest recorded yield was 0.87%, while the highest was 2.15%. The standard deviation of yields is 0.27, based on a sample size of 235. Notably, the current dividend yield is 0.09 standard deviations above the historical average.
**Understanding Dividend Payout Ratio**
Lennox International has a dividend payout ratio of 0.29. This ratio indicates the proportion of a company’s income that is paid out in dividends. A payout ratio of 1.0 means that the company is distributing 100% of its income as dividends. However, a payout ratio greater than 1 suggests that the company is using its savings to maintain the dividend, which is not considered healthy. Companies with limited growth prospects tend to have a higher payout ratio, typically ranging between 0.5 and 1.0. Conversely, companies with strong growth prospects usually retain some earnings for investments, resulting in a payout ratio between 0 and 0.5.
**Dividend Growth Rate**
Lennox International has demonstrated a 3-Year dividend growth rate of 0.38%. This indicates that the company has been increasing its dividend over time, reflecting its commitment to rewarding shareholders through consistent dividend growth.
**Fund Sentiment and Analyst Price Forecast**
According to reports, 841 funds or institutions hold positions in Lennox International. This represents a decrease of 0.59% from the previous quarter. On average, these funds have a portfolio weight of 0.23%, which indicates an increase of 8.89%. Total shares owned by institutions have decreased by 5.26% in the last three months, amounting to 28,519K shares. The put/call ratio of LII is 0.70, suggesting a bullish outlook.
As of July 6, 2023, the average one-year price target for Lennox International is $299.15. Analyst forecasts range from a low of $255.53 to a high of $372.75. The average price target represents a 9.61% decrease from the latest reported closing price of $330.96.
**Other Shareholders’ Activities**
Some notable shareholders of Lennox International include Kayne Anderson Rudnick Investment Management, which holds 1,358K shares, representing 3.83% ownership of the company. This represents an increase of 7.46% from the prior filing. Mather Group, Llc. owns 1,241K shares, corresponding to 3.50% ownership, with no change in the last quarter. IJH – iShares Core S&P Mid-Cap ETF holds 996K shares, representing 2.80% ownership, with a minimal decrease of 0.01%. VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 987K shares, amounting to 2.78% ownership, with an increase of 1.94%. Wellington Management Group Llp holds 918K shares, signifying 2.59% ownership, with a decrease of 7.32%.
**About Lennox International**
Lennox International Inc. is a renowned global leader in energy-efficient climate-control solutions. The company is dedicated to sustainability and strives to create comfortable and healthier environments for both its residential and commercial customers while reducing their carbon footprint. Lennox International leads the industry in innovation by offering cutting-edge air conditioning, heating, indoor air quality, and refrigeration systems.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect those of Nasdaq, Inc.
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