Truist Financial Corp Sells 708 Shares of LCI Industries (NYSE:LCII)

Truist Financial Corp lessened its stake in shares of LCI Industries (NYSE:LCII) by 3.7% during the 4th quarter, Holdings Channel reports. The firm owned 18,442 shares of the company’s stock after selling 708 shares during the quarter. Truist Financial Corp’s holdings in LCI Industries were worth $2,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of LCII. Raymond James Financial Services Advisors Inc. grew its position in LCI Industries by 2.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,256 shares of the company’s stock worth $1,204,000 after purchasing an additional 223 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of LCI Industries by 28.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,544 shares of the company’s stock valued at $534,000 after acquiring an additional 1,018 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of LCI Industries by 3.0% in the 3rd quarter. California Public Employees Retirement System now owns 58,776 shares of the company’s stock valued at $6,901,000 after acquiring an additional 1,708 shares during the last quarter. Advisor OS LLC boosted its holdings in shares of LCI Industries by 5.1% in the 3rd quarter. Advisor OS LLC now owns 2,167 shares of the company’s stock valued at $255,000 after acquiring an additional 105 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of LCI Industries in the 3rd quarter valued at $1,804,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on LCII shares. BMO Capital Markets downgraded shares of LCI Industries from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $105.00 to $100.00 in a report on Monday, January 22nd. Robert W. Baird dropped their price objective on shares of LCI Industries from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Truist Financial reissued a “hold” rating and set a $110.00 price target (down from $140.00) on shares of LCI Industries in a report on Friday, January 19th. Finally, Roth Mkm lowered their price target on shares of LCI Industries from $113.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.20.

LCI Industries Stock Performance

NYSE:LCII opened at $111.20 on Thursday. The company has a fifty day moving average of $113.02 and a two-hundred day moving average of $115.48. The stock has a market capitalization of $2.83 billion, a PE ratio of 43.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 2.83. LCI Industries has a fifty-two week low of $102.39 and a fifty-two week high of $137.07.

LCI Industries (NYSE:LCII) last issued its earnings results on Tuesday, February 13th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.24). The business had revenue of $837.54 million during the quarter, compared to analyst estimates of $835.99 million. LCI Industries had a net margin of 1.70% and a return on equity of 4.70%. LCI Industries’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.68) earnings per share. As a group, research analysts forecast that LCI Industries will post 5.71 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.78%. The ex-dividend date was Thursday, March 7th. LCI Industries’s payout ratio is currently 166.01%.

About LCI Industries

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.