Vanguard Group Inc. Has $144.78 Million Position in Lindsay Corporation $LNN

Vanguard Group Inc. reduced its holdings in shares of Lindsay Corporation (NYSE:LNN) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,228,314 shares of the industrial products company’s stock after selling 30,380 shares during the period. Vanguard Group Inc. owned about 0.12% of Lindsay worth $144,781,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Advisory Services Network LLC acquired a new position in Lindsay in the third quarter valued at about $30,000. Copeland Capital Management LLC bought a new stake in shares of Lindsay during the fourth quarter worth approximately $62,000. Russell Investments Group Ltd. raised its stake in shares of Lindsay by 2,226.8% during the third quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company’s stock worth $134,000 after buying an additional 913 shares during the last quarter. State of Wyoming raised its stake in shares of Lindsay by 196.4% during the second quarter. State of Wyoming now owns 1,227 shares of the industrial products company’s stock worth $177,000 after buying an additional 813 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Lindsay by 23.9% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,363 shares of the industrial products company’s stock worth $192,000 after buying an additional 263 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LNN has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Zacks Research cut shares of Lindsay from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $113.00.

Lindsay Stock Performance

NYSE LNN opened at $109.11 on Tuesday. The firm has a 50-day moving average of $115.98 and a 200-day moving average of $119.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 3.02. The stock has a market cap of $1.13 billion, a PE ratio of 19.98 and a beta of 0.73. Lindsay Corporation has a 52-week low of $97.27 and a 52-week high of $150.96.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). The company had revenue of $157.72 million for the quarter, compared to analyst estimates of $163.52 million. Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 EPS. On average, sell-side analysts anticipate that Lindsay Corporation will post 5.19 EPS for the current year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 15th. Lindsay’s dividend payout ratio (DPR) is currently 27.11%.

Lindsay Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.