Buck Sherry, a director at Lennox International Inc. (NYSE:LII), recently sold 500 shares of the company's common stock. The transaction comes as Lennox trades near its 52-week high of $682.50, with the stock delivering impressive returns of nearly 66% over the past year. The sale, which occurred on November 27, was executed at a price of $660.74 per share, amounting to a total sale of $330,370. Following this sale, Sherry now holds 1,693 shares in the company, currently valued at approximately $1.14 million based on the latest stock price of $672.06. The transaction was filed with the Securities and Exchange Commission on November 29, 2024.According to InvestingPro analysis, Lennox International appears to be trading above its Fair Value, with the stock currently commanding a market capitalization of $23.89 billion. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers this and over 1,400 other top US stocks with detailed analysis and actionable intelligence.
In other recent news, Lennox International reported impressive third-quarter results, surpassing expectations with a 15% increase in core revenue to approximately $1.5 billion and a 24% surge in adjusted earnings per share to $6.68. The company's operating cash flow also saw a significant 44% year-over-year increase, reaching $452 million. Following these positive developments, both Mizuho (NYSE:MFG) Securities and RBC (TSX:RY) Capital maintained their positive ratings on Lennox and increased their stock price targets.
These achievements were attributed to successful strategic initiatives, such as capacity expansion and a focus on emergency replacement services, which have created additional commercial opportunities. Lennox is also progressing with its new R454-B pricing initiatives, expecting a price increase of over 10% and anticipating that these systems will account for two-thirds of market demand by 2025.
The company has adjusted its earnings per share guidance for 2024 to a range of $20.75-$21, and increased its free cash flow guidance to between $575 and $650 million. Lennox International is optimistic about its growth in 2025, driven by its transition to low GWP refrigerants and operational efficiencies, despite potential challenges such as manufacturing capacity limitations and pressures from investments and rising costs affecting margins. These are the recent developments regarding Lennox International.
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