Lennox International Set to Join S&P 500 and BILL Holdings to Join S&P MidCap 400

Rhea-AI Summary

Lennox International (NYSE: LII) will join the S&P 500 and exit the S&P MidCap 400 prior to trading on Dec 23, 2024. BILL Holdings (NYSE: BILL) will replace Lennox in the S&P MidCap 400 the same day. Catalent (NYSE: CTLT) is being removed from the S&P 500 following its acquisition by Novo Holdings, which closed on Dec 18, 2024.

Changes and tickers: LII added to S&P 500 and deleted from MidCap 400; BILL added to MidCap 400; CTLT deleted from S&P 500. Effective date: Dec 23, 2024.

Positive

• Lennox added to S&P 500 effective Dec 23, 2024
• BILL Holdings added to S&P MidCap 400 effective Dec 23, 2024

Negative

• Catalent removed from S&P 500 following acquisition closed Dec 18, 2024
• Lennox deleted from S&P MidCap 400 effective Dec 23, 2024

Market Context

This announcement transitions Lennox from the S&P MidCap 400 into the S&P 500 as of Dec 23, 2024, a ...

Analysis

This announcement transitions Lennox from the S&P MidCap 400 into the S&P 500 as of Dec 23, 2024, a structural change that can affect index ownership and trading dynamics. Recent history shows mixed price responses to positive strategic and capital-return announcements, so investors may focus on execution, valuation, and upcoming events rather than index status alone. The existing Form S-3ASR shelf also provides flexibility for future capital-raising or balance sheet actions.

Key Figures

Effective index date: Dec 23, 2024 Acquisition close date: Dec 18, 2024

2 metrics

Effective index date Dec 23, 2024 Date LII joins S&P 500 and exits S&P MidCap 400

Acquisition close date Dec 18, 2024 Novo Holdings A/S deal closure for Catalent

Historical Context

5 past events · Latest: Apr 08 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 08	Earnings schedule	Neutral	+6.1%	Company set date and call details for Q1 2026 results release.
Mar 20	Dividend declaration	Positive	-2.0%	Board approved $1.30 per-share quarterly cash dividend for April 2026.
Mar 04	Guidance & targets	Positive	-0.3%	Reaffirmed 2026 guidance and set 2030 revenue, margin, and FCF targets.
Mar 03	Strategic joint venture	Positive	-2.0%	Entered water-heating JV with Ariston, expanding into new residential category.
Feb 10	Investor Day plan	Neutral	+3.6%	Announced 2026 Investor Day to outline strategy and long-term growth targets.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history shows several strategic or capital-return announcements followed by modest negative reactions, indicating the stock has sometimes sold off on otherwise positive news.

Recent Company History

Over the last few months, Lennox issued a mix of strategic and shareholder-focused updates. A notice scheduling Q1 2026 results and a 2026 Investor Day announcement both saw positive moves. By contrast, a $1.30 quarterly dividend declaration, reaffirmed 2026 guidance with new 2030 targets, and a residential water-heating joint venture each saw small declines. Against this backdrop, today’s index reclassification adds another structural milestone, distinct from operations or capital allocation news.

Key Terms

s&p 500, s&p midcap 400, gics sector

3 terms

s&p 500 financial

"Lennox International Inc. (NYSE: LII) will replace Catalent Inc. (NYSE: CTLT) in the S&P 500"

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

s&p midcap 400 financial

"BILL Holdings Inc. (NYSE: BILL) will replace Lennox International in the S&P MidCap 400"

The S&P MidCap 400 is a group of 400 companies that are smaller than the big, well-known corporations but larger than tiny startups. It helps investors see how medium-sized companies are performing in the stock market, acting like a barometer for this middle-sized group of businesses.

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, Dec. 18, 2024 /PRNewswire/ -- S&P MidCap 400 constituent Lennox International Inc. (NYSE: LII) will replace Catalent Inc. (NYSE: CTLT) in the S&P 500, and BILL Holdings Inc. (NYSE: BILL) will replace Lennox International in the S&P MidCap 400 effective prior to the opening of trading on Monday, December 23. Novo Holdings A/S has acquired Catalent in a deal that closed today, December 18.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name		Action	Company Name	Ticker	GICS Sector
Dec 23, 2024	S&P 500	Addition		Lennox International	LII	Industrials
Dec 23, 2024	S&P 500	Deletion		Catalent	CTLT	Health Care
Dec 23, 2024	S&P MidCap 400	Addition		BILL Holdings	BILL	Information Technology
Dec 23, 2024	S&P MidCap 400	Deletion		Lennox International	LII	Industrials

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View original content:https://www.prnewswire.com/news-releases/lennox-international-set-to-join-sp-500-and-bill-holdings-to-join-sp-midcap-400-302335548.html

SOURCE S&P Dow Jones Indices

FAQ

When will Lennox International (LII) officially join the S&P 500?

Lennox will join the S&P 500 prior to market open on Dec 23, 2024. According to S&P Dow Jones Indices, the change is part of a routine index reconstitution and will be effective before trading begins that day.

Why is Catalent (CTLT) being removed from the S&P 500 on Dec 23, 2024?

Catalent is being removed because Novo Holdings completed an acquisition closed on Dec 18, 2024. According to S&P Dow Jones Indices, the takeover triggered CTLT's deletion from the S&P 500 ahead of Dec 23, 2024 rebalancing.

What change will BILL Holdings (BILL) see in the S&P indices on Dec 23, 2024?

BILL will be added to the S&P MidCap 400 prior to trading on Dec 23, 2024. According to S&P Dow Jones Indices, BILL replaces Lennox in the MidCap 400 effective that date.

How does the Dec 23, 2024 index reconstitution affect Lennox's index membership?

Lennox will leave the S&P MidCap 400 and enter the S&P 500 on Dec 23, 2024. According to S&P Dow Jones Indices, LII's midcap deletion coincides with its S&P 500 addition the same day.

Who announced the S&P index changes effective Dec 23, 2024?

S&P Dow Jones Indices announced the index adjustments effective Dec 23, 2024. According to S&P Dow Jones Indices, the changes reflect the closed acquisition of Catalent and corresponding index reconstitution.

Where can investors find more details about the S&P index changes for LII, BILL, and CTLT?

Investors can find details on the S&P Dow Jones Indices website and their index notices. According to S&P Dow Jones Indices, full listings and timing information are posted on www.spdji.com around the effective date.