What Makes Lennox International (LII) a Good Value Investment?
The London Company, an investment management company, released “The London Company Mid Cap Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned 10.3% gross (10.2% net) compared to a 4.8% return for the Russell Midcap Index. The portfolio outperformed the benchmark in a strong market environment, despite headwinds from factor performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Mid Cap Strategy highlighted stocks like Lennox International Inc. (NYSE:LII) in the second quarter 2023 investor letter. Headquartered in Richardson, Texas, Lennox International Inc. (NYSE:LII) designs, manufactures, and markets products for heating, ventilation, air conditioning, and refrigeration. On August 2, 2023, Lennox International Inc. (NYSE:LII) stock closed at $372.75 per share. One-month return of Lennox International Inc. (NYSE:LII) was 17.07%, and its shares gained 52.45% of their value over the last 52 weeks. Lennox International Inc. (NYSE:LII) has a market capitalization of $13.233 billion.
The London Company Mid Cap Strategy made the following comment about Lennox International Inc. (NYSE:LII) in its second quarter 2023 investor letter:
"Lennox International Inc. (NYSE:LII) - LII outperformed during 02. While residential HV AC volume turned negative, current trends are consistent with expectations. Additionally, the new CEO is executing well against stated objectives, specifically, on restoring profitability of the Commercial segment. We are also supportive of management's decision to sell the international business, which we viewed as a subscale distraction. We see LII as a high quality business in a good industry with opportunities to improve, and we are pleased to see the company effectively attacking opportunities for improvement."
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Lennox International Inc. (NYSE:LII) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Lennox International Inc. (NYSE:LII) at the end of first quarter which was 35 in the previous quarter.
We discussed Lennox International Inc. (NYSE:LII) in another article and shared the list of most promising mid-cap stocks according to analysts. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
