Public Sector Pension Investment Board Has $5.95 Million Position in Lindsay Corporation $LNN

Public Sector Pension Investment Board lifted its position in shares of Lindsay Corporation (NYSE:LNN) by 14.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,359 shares of the industrial products company’s stock after purchasing an additional 5,285 shares during the period. Public Sector Pension Investment Board’s holdings in Lindsay were worth $5,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in Lindsay in the 2nd quarter valued at about $159,000. State of Wyoming raised its stake in Lindsay by 196.4% in the second quarter. State of Wyoming now owns 1,227 shares of the industrial products company’s stock valued at $177,000 after buying an additional 813 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Lindsay in the second quarter valued at approximately $217,000. Tower Research Capital LLC TRC boosted its stake in shares of Lindsay by 642.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 1,350 shares during the period. Finally, Creative Planning acquired a new position in shares of Lindsay during the 2nd quarter worth approximately $227,000. 89.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on LNN shares. Stifel Nicolaus raised their price target on Lindsay from $122.00 to $128.00 and gave the company a “hold” rating in a report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Lindsay in a research note on Friday, October 31st. Finally, Wall Street Zen lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Lindsay currently has a consensus rating of “Hold” and an average target price of $128.00.

Lindsay Trading Down 0.9%

LNN stock opened at $133.05 on Thursday. Lindsay Corporation has a 52 week low of $106.10 and a 52 week high of $150.96. The company has a market capitalization of $1.39 billion, a PE ratio of 19.71 and a beta of 0.82. The company’s 50-day simple moving average is $125.10 and its 200 day simple moving average is $127.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.43 and a current ratio of 3.42.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, January 8th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. Lindsay had a net margin of 11.02% and a return on equity of 14.01%. The firm had revenue of $155.82 million during the quarter, compared to the consensus estimate of $166.81 million. During the same quarter in the previous year, the firm posted $1.57 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, February 13th. Lindsay’s dividend payout ratio (DPR) is 21.93%.

About Lindsay

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.