Principal Financial Group Inc. Raises Stock Holdings in LCI Industries (NYSE:LCII)

Principal Financial Group Inc. boosted its stake in shares of LCI Industries (NYSE:LCII) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 632,221 shares of the company’s stock after buying an additional 36,487 shares during the quarter. Principal Financial Group Inc. owned 2.48% of LCI Industries worth $76,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System increased its holdings in LCI Industries by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,323,000 after purchasing an additional 300 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in LCI Industries by 16.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 128,896 shares of the company’s stock valued at $13,325,000 after acquiring an additional 17,845 shares during the period. Hantz Financial Services Inc. acquired a new position in LCI Industries in the 2nd quarter valued at about $539,000. Commonwealth Equity Services LLC increased its stake in LCI Industries by 9.9% during the second quarter. Commonwealth Equity Services LLC now owns 3,574 shares of the company’s stock worth $370,000 after purchasing an additional 322 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of LCI Industries by 7.7% during the second quarter. nVerses Capital LLC now owns 1,400 shares of the company’s stock worth $145,000 after purchasing an additional 100 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LCI Industries

In related news, CEO Jason Lippert sold 10,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $126.00, for a total value of $1,260,000.00. Following the transaction, the chief executive officer now owns 373,145 shares in the company, valued at $47,016,270. The trade was a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial upped their target price on shares of LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Raymond James initiated coverage on LCI Industries in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, StockNews.com lowered LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $112.20.

LCI Industries Price Performance

Shares of NYSE:LCII opened at $104.65 on Friday. The company’s fifty day moving average price is $116.47 and its 200 day moving average price is $113.13. The firm has a market capitalization of $2.66 billion, a P/E ratio of 20.36 and a beta of 1.41. LCI Industries has a 12 month low of $96.18 and a 12 month high of $131.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.88 and a quick ratio of 1.25.

LCI Industries (NYSE:LCII) last announced its earnings results on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The firm had revenue of $915.50 million during the quarter, compared to analysts’ expectations of $922.85 million. During the same period in the prior year, the firm earned $1.02 EPS. The business’s revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts predict that LCI Industries will post 5.51 earnings per share for the current fiscal year.

LCI Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.40%. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, November 29th. LCI Industries’s payout ratio is presently 89.49%.

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.