Kestra Investment Management LLC Invests $242,000 in LCI Industries $LCII

Kestra Investment Management LLC bought a new position in LCI Industries (NYSE:LCII) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,767 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in LCI Industries by 3.1% in the fourth quarter. Ameriprise Financial Inc. now owns 112,356 shares of the company’s stock valued at $11,617,000 after acquiring an additional 3,349 shares during the period. Deutsche Bank AG lifted its position in shares of LCI Industries by 48.4% during the 4th quarter. Deutsche Bank AG now owns 22,301 shares of the company’s stock valued at $2,306,000 after buying an additional 7,270 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of LCI Industries by 38.2% during the 4th quarter. Gotham Asset Management LLC now owns 21,747 shares of the company’s stock valued at $2,248,000 after buying an additional 6,016 shares in the last quarter. LRI Investments LLC lifted its position in shares of LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company’s stock valued at $41,000 after buying an additional 311 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of LCI Industries by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,116 shares of the company’s stock valued at $1,459,000 after buying an additional 535 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LCII shares. Wall Street Zen downgraded LCI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Truist Financial lifted their price objective on LCI Industries from $80.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, June 3rd. Finally, BMO Capital Markets lifted their target price on LCI Industries from $80.00 to $85.00 and gave the stock an “underperform” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $103.25.

LCI Industries Price Performance

LCII opened at $103.36 on Wednesday. The business has a fifty day moving average of $100.63 and a 200 day moving average of $92.21. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.51 billion, a P/E ratio of 17.26 and a beta of 1.34.

LCI Industries (NYSE:LCII) last issued its earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.17. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $2.40 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that LCI Industries will post 6.76 EPS for the current year.

LCI Industries announced that its Board of Directors has authorized a stock buyback program on Thursday, May 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, August 29th. LCI Industries’s dividend payout ratio is currently 76.79%.

LCI Industries Company Profile

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.