2,500 Shares in Lindsay Co. (NYSE:LNN) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in Lindsay Co. (NYSE:LNN) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,500 shares of the industrial products company’s stock, valued at approximately $296,000.

Several other institutional investors have also recently modified their holdings of the company. Lightrock Netherlands B.V. bought a new stake in Lindsay during the 4th quarter valued at $11,396,000. SG Americas Securities LLC raised its position in shares of Lindsay by 746.5% in the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock worth $6,168,000 after purchasing an additional 45,979 shares during the last quarter. Jennison Associates LLC purchased a new stake in Lindsay during the 4th quarter valued at $5,088,000. JPMorgan Chase & Co. boosted its holdings in shares of Lindsay by 304.7% during the 4th quarter. JPMorgan Chase & Co. now owns 41,640 shares of the industrial products company’s stock valued at $4,926,000 after acquiring an additional 31,351 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 13,986 shares during the period. 89.94% of the stock is currently owned by institutional investors.

Lindsay Price Performance

Shares of LNN opened at $128.79 on Friday. The company’s fifty day moving average price is $128.10 and its 200-day moving average price is $127.07. The firm has a market capitalization of $1.40 billion, a PE ratio of 20.67 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.27.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $174.50 million. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The business’s revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts predict that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, May 16th. Lindsay’s payout ratio is 20.48%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Stifel Nicolaus dropped their price objective on Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a report on Wednesday, April 16th.

Lindsay Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.