$10 Million Exit From Lindsay Comes as Margins Hold at 12.6% Despite Revenue Pressure

3 weeks ago 13

Jonathan Ponciano, The Motley Fool

Fri, February 6, 2026 astatine 11:30 AM CST 4 min read

On February 3, Pier Capital reported successful an SEC filing that it sold retired of Lindsay (NYSE:LNN), liquidating 71,799 shares successful a transaction estimated astatine $10.09 million.

According to a Securities and Exchange Commission (SEC) filing dated February 3, Pier Capital afloat exited its presumption successful Lindsay (NYSE:LNN) by selling 71,799 shares. The estimated transaction worth was $10.09 million.

The Lindsay involvement represented astir 1.58% of AUM successful the erstwhile 4th and is present zero

Top holdings astatine quarter-end:

NYSE:MIR: $16.80 cardinal (2.7% of AUM)
NYSE:CWAN: $16.45 cardinal (2.6% of AUM)
NYSE:HXL: $11.99 cardinal (1.9% of AUM)
NASDAQ:ALHC: $10.80 cardinal (1.7% of AUM)
NASDAQ:FULT: $10.50 cardinal (1.7% of AUM)

As of February 2, Lindsay shares were priced astatine $127.27, down 1.86% implicit the past twelvemonth and underperforming the S&P 500’s astir 14% summation successful the aforesaid period.

Metric

Value

Revenue (TTM)	$665.90 million
Net income (TTM)	$73.41 million
Dividend yield	1.1%
Price (as of February 2)	$127.27

Lindsay offers irrigation systems, controls, and infrastructure solutions for h2o absorption and roadworthy safety, including the Zimmatic, Perrot, Greenfield, and GrowSmart brands.
The institution generates gross by manufacturing and selling cultivation irrigation instrumentality and infrastructure products, arsenic good arsenic providing related exertion and services.
It serves cultivation producers, departments of transportation, municipal agencies, roadway contractors, and distributors successful the United States and internationally.

Lindsay is simply a starring supplier of h2o absorption and roadworthy infrastructure solutions, operating astatine standard with a diversified merchandise portfolio and planetary reach. The company’s strategy focuses connected leveraging exertion and engineering expertise to code captious needs successful cultivation productivity and road safety. Its competitory vantage is underpinned by established brands, a beardown beingness successful some irrigation and infrastructure markets, and a committedness to innovation.

What matters present is little the exit itself and much what it says astir patience successful a cyclical concern that is proving resilient, but not immune. Lindsay is navigating a hard cultivation backdrop marked by brushed husbandman sentiment, little commodity prices, and delayed superior spending, yet its astir caller 4th showed however disciplined operators tin inactive support profitability.

For the fiscal archetypal 4th ended Nov. 30, Lindsay reported gross of $155.8 million, down 6% twelvemonth implicit year, but held operating borderline dependable astatine 12.6%. Irrigation gross declined 9%, driven by weaker North American request and slower task timing successful Brazil and the Middle East, portion infrastructure gross roseate 17% connected stronger roadworthy information sales. Plus, the infrastructure conception posted a 20.1% operating margin, helping offset irrigation softness.

The institution besides leaned into superior returns, repurchasing astir $30 cardinal of banal during the 4th and authorizing a caller $150 cardinal buyback program. Still, backlog fell sharply to $119.2 cardinal from $168.2 cardinal a twelvemonth earlier, reflecting deliveries tied to anterior ample irrigation projects. Ultimately, this determination highlights the hostility successful Lindsay’s story. Strong margins, a cleanable equilibrium sheet, and infrastructure maturation reason for durability, but near-term irrigation request remains tied to forces absorption cannot control. Walking distant present whitethorn bespeak timing alternatively than a breached business.