Stephens Investment Management Group LLC Grows Stake in Lindsay Corporation $LNN

Key Points

• Stephens Investment Management Group LLC increased its stake in Lindsay Corporation by 7.7% during the second quarter, now owning approximately 0.85% of the company, worth $13.3 million.
• Other institutional investors have shown significant interest in Lindsay, with Jennison Associates increasing its holdings by 404.3% in the first quarter.
• Lindsay Corporation's stock has a market capitalization of $1.33 billion and recently opened at $122.24, experiencing a 5.1% decline on Thursday.

Stephens Investment Management Group LLC boosted its position in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,423 shares of the industrial products company's stock after purchasing an additional 6,568 shares during the quarter. Stephens Investment Management Group LLC owned about 0.85% of Lindsay worth $13,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LNN. Jennison Associates LLC increased its holdings in Lindsay by 404.3% during the 1st quarter. Jennison Associates LLC now owns 216,878 shares of the industrial products company's stock worth $27,439,000 after purchasing an additional 173,872 shares during the period. Nuveen LLC purchased a new position in Lindsay during the 1st quarter worth $4,593,000. Lightrock Netherlands B.V. increased its holdings in shares of Lindsay by 28.8% in the 1st quarter. Lightrock Netherlands B.V. now owns 123,415 shares of the industrial products company's stock valued at $15,640,000 after acquiring an additional 27,566 shares during the period. Sandler Capital Management purchased a new position in shares of Lindsay in the 1st quarter valued at $3,036,000. Finally, Jane Street Group LLC increased its holdings in shares of Lindsay by 134.4% in the 1st quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company's stock valued at $4,899,000 after acquiring an additional 22,204 shares during the period. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of Lindsay stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director owned 3,274 shares of the company's stock, valued at approximately $465,169.92. The trade was a 36.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Lindsay Stock Down 5.1%

Lindsay stock opened at $122.24 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.64 and a quick ratio of 2.64. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 17.56 and a beta of 0.82. Lindsay Corporation has a 1-year low of $112.20 and a 1-year high of $150.96. The business has a fifty day moving average price of $137.83 and a 200-day moving average price of $136.25.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a report on Friday, June 27th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Lindsay in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $136.00.

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.

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