Gitterman Wealth Management LLC Purchases 101 Shares of Lindsay Co. (NYSE:LNN)

Gitterman Wealth Management LLC increased its stake in shares of Lindsay Co. (NYSE:LNN) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,753 shares of the industrial products company’s stock after acquiring an additional 101 shares during the quarter. Gitterman Wealth Management LLC’s holdings in Lindsay were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNN. KBC Group NV grew its position in Lindsay by 1.6% in the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock worth $41,233,000 after acquiring an additional 5,382 shares in the last quarter. Wellington Management Group LLP increased its position in Lindsay by 35.4% during the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after purchasing an additional 36,128 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Lindsay by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,092 shares of the industrial products company’s stock worth $16,338,000 after buying an additional 5,140 shares in the last quarter. Lightrock Netherlands B.V. purchased a new position in Lindsay in the fourth quarter valued at about $11,396,000. Finally, Stephens Investment Management Group LLC boosted its stake in Lindsay by 1.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 89,344 shares of the industrial products company’s stock valued at $10,570,000 after acquiring an additional 1,509 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LNN has been the subject of several research reports. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Stifel Nicolaus upped their price target on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Lindsay Price Performance

Shares of LNN opened at $130.16 on Friday. The firm has a 50-day simple moving average of $131.32 and a two-hundred day simple moving average of $126.11. The stock has a market cap of $1.41 billion, a PE ratio of 20.89 and a beta of 0.70. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.27. 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 (NYSE:LNN) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. During the same period in the prior year, the firm earned $1.36 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio (DPR) is 23.11%.

About Lindsay

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.