Comerica Bank increased its position in Lindsay Co. (NYSE:LNN) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,914 shares of the company’s stock after buying an additional 606 shares during the period. Comerica Bank’s holdings in Lindsay were worth $891,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Neuberger Berman Group LLC raised its stake in shares of Lindsay by 4.9% in the third quarter. Neuberger Berman Group LLC now owns 830,731 shares of the company’s stock worth $61,457,000 after buying an additional 38,650 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Lindsay by 5.8% in the third quarter. BlackRock Fund Advisors now owns 739,857 shares of the company’s stock worth $54,735,000 after buying an additional 40,251 shares in the last quarter. Nuance Investments LLC raised its stake in shares of Lindsay by 30.6% in the third quarter. Nuance Investments LLC now owns 319,255 shares of the company’s stock worth $23,618,000 after buying an additional 74,756 shares in the last quarter. Great Lakes Advisors LLC raised its stake in shares of Lindsay by 74.8% in the third quarter. Great Lakes Advisors LLC now owns 117,425 shares of the company’s stock worth $8,687,000 after buying an additional 50,252 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Lindsay by 1.9% in the third quarter. Schroder Investment Management Group now owns 76,380 shares of the company’s stock worth $5,651,000 after buying an additional 1,397 shares in the last quarter.
Lindsay Co. (NYSE:LNN) opened at 79.94 on Tuesday. The company has a market cap of $851.60 million, a price-to-earnings ratio of 61.21 and a beta of 0.74. Lindsay Co. has a 52 week low of $65.78 and a 52 week high of $89.98. The stock has a 50 day moving average of $79.33 and a 200 day moving average of $77.74.
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LNN has been the topic of a number of research analyst reports. Stifel Nicolaus raised shares of Lindsay from a “sell” rating to a “hold” rating and increased their price objective for the stock from $69.00 to $85.00 in a report on Thursday, December 1st. Piper Jaffray Companies raised shares of Lindsay from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $67.00 to $77.00 in a report on Monday, November 28th. Finally, Zacks Investment Research lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Tuesday, December 13th. Seven investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $75.50.
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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