Prudential Financial Inc. Lowers Stock Holdings in Lindsay Co. (NYSE:LNN)

Prudential Financial Inc. cut its holdings in shares of Lindsay Co. (NYSE:LNN) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,104 shares of the industrial products company’s stock after selling 130 shares during the quarter. Prudential Financial Inc.’s holdings in Lindsay were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LNN. AlphaQuest LLC purchased a new position in shares of Lindsay during the 4th quarter worth about $32,000. GAMMA Investing LLC raised its stake in Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 131 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 86 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Lindsay by 73.1% during the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after buying an additional 623 shares during the period. Finally, Gitterman Wealth Management LLC increased its holdings in shares of Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock worth $207,000 after buying an additional 101 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Price Performance

Lindsay stock opened at $119.75 on Friday. The firm has a fifty day moving average of $131.04 and a 200-day moving average of $127.01. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $140.27. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72.

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

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.20%. Lindsay’s dividend payout ratio is presently 23.11%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LNN shares. Stifel Nicolaus lifted their target price on Lindsay from $130.00 to $134.00 and gave the company a “hold” rating in a report on Friday. StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Thursday.

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.