Lindsay Corp. (LNN) Position Raised by Neuberger Berman Group LLC
Neuberger Berman Group LLC increased its stake in shares of Lindsay Corp. (NYSE:LNN) by 4.9% during the third quarter, Holdings Channel reports. The firm owned 830,731 shares of the company’s stock after buying an additional 38,650 shares during the period. Neuberger Berman Group LLC owned 0.08% of Lindsay Corp. worth $61,457,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Royce & Associates LP boosted its stake in shares of Lindsay Corp. by 7.1% in the second quarter. Royce & Associates LP now owns 950,149 shares of the company’s stock valued at $64,477,000 after buying an additional 62,800 shares during the period. Impax Asset Management LTD boosted its stake in shares of Lindsay Corp. by 35.0% in the second quarter. Impax Asset Management LTD now owns 263,879 shares of the company’s stock valued at $17,907,000 after buying an additional 68,379 shares during the period. John G Ullman & Associates Inc. boosted its stake in shares of Lindsay Corp. by 7.9% in the second quarter. John G Ullman & Associates Inc. now owns 168,757 shares of the company’s stock valued at $11,452,000 after buying an additional 12,375 shares during the period. Stephens Investment Management Group LLC bought a new stake in shares of Lindsay Corp. during the second quarter valued at approximately $7,970,000. Finally, Fenimore Asset Management Inc. boosted its stake in shares of Lindsay Corp. by 4.4% in the third quarter. Fenimore Asset Management Inc. now owns 111,190 shares of the company’s stock valued at $8,226,000 after buying an additional 4,725 shares during the period.
Shares of Lindsay Corp. (NYSE:LNN) opened at 84.28 on Wednesday. The stock’s 50 day moving average is $77.69 and its 200-day moving average is $72.55. Lindsay Corp. has a one year low of $62.99 and a one year high of $85.09. The stock has a market capitalization of $895.90 million, a P/E ratio of 45.56 and a beta of 0.79.
Lindsay Corp. (NYSE:LNN) last released its quarterly earnings results on Thursday, October 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.43 by $0.30. The business earned $132.90 million during the quarter, compared to analyst estimates of $113.38 million. Lindsay Corp. had a net margin of 3.92% and a return on equity of 11.25%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, equities research analysts expect that Lindsay Corp. will post $2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s payout ratio is currently 61.70%.
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Several equities analysts have weighed in on LNN shares. Zacks Investment Research upgraded shares of Lindsay Corp. from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Tuesday, November 8th. TheStreet downgraded shares of Lindsay Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Piper Jaffray Cos. upgraded shares of Lindsay Corp. from an “underweight” rating to a “neutral” rating and raised their target price for the company from $67.00 to $77.00 in a report on Monday. Finally, Stifel Nicolaus raised their target price on shares of Lindsay Corp. from $64.00 to $69.00 and gave the company a “sell” rating in a report on Friday, October 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Lindsay Corp. currently has a consensus rating of “Hold” and an average price target of $75.71.
Lindsay Corp. Company Profile
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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