Envestnet Portfolio Solutions Inc. Trims Stake in LCI Industries (NYSE:LCII)

Envestnet Portfolio Solutions Inc. reduced its stake in LCI Industries (NYSE:LCII) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,432 shares of the company’s stock after selling 434 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in LCI Industries were worth $355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of LCI Industries by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 643,507 shares of the company’s stock worth $66,536,000 after acquiring an additional 11,286 shares in the last quarter. Victory Capital Management Inc. grew its stake in LCI Industries by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 636,275 shares of the company’s stock worth $65,784,000 after purchasing an additional 15,057 shares during the period. Geode Capital Management LLC raised its holdings in LCI Industries by 0.3% in the third quarter. Geode Capital Management LLC now owns 564,761 shares of the company’s stock worth $68,090,000 after purchasing an additional 1,688 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in LCI Industries by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 436,423 shares of the company’s stock valued at $45,122,000 after buying an additional 25,145 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in LCI Industries by 29.2% during the fourth quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company’s stock valued at $36,975,000 after buying an additional 80,784 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LCII has been the topic of a number of recent research reports. CJS Securities raised shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Wednesday, February 12th. Truist Financial upped their price objective on shares of LCI Industries from $102.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Finally, StockNews.com upgraded shares of LCI Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.50.

LCI Industries Stock Up 0.3 %

NYSE:LCII opened at $91.33 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82. The firm has a market cap of $2.33 billion, a P/E ratio of 16.31 and a beta of 1.45. LCI Industries has a fifty-two week low of $86.23 and a fifty-two week high of $129.38. The firm has a 50-day simple moving average of $100.79 and a two-hundred day simple moving average of $109.48.

LCI Industries (NYSE:LCII) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. Analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, March 7th. LCI Industries’s payout ratio is 82.14%.

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.