Nuance Investments Reverses Course, Buys $16 Million of Lindsay Stock
Key Points
Nuance Investments, LLC purchased 133,190 shares of Lindsay Corporation; estimated trade value is $16.03 million based on quarterly average pricing.
The quarter-end position value increased by $14.67 million, reflecting both the share purchase and stock price movements.
This trade represented a 1.77% increase relative to 13F reportable assets under management.
Post-trade stake: 178,571 shares valued at $21.05 million.
The position now accounts for 2.32% of the fund’s reportable U.S. equity assets, placing it outside the fund’s top five holdings.
- 10 stocks we like better than Lindsay ›
What happened
According to an SEC filing dated Feb. 10, 2026, Nuance Investments, LLC increased its holdings in Lindsay Corporation (NYSE:LNN) by 133,190 shares during the fourth quarter of 2025. The estimated transaction value was $16.03 million, calculated using the average share price over the quarter. The fund’s quarter-end position in Lindsay Corporation totaled 178,571 shares, with a valuation change of $14.67 million attributable to both trading activity and price movement.
What else to know
This buy raised the Lindsay Corporation position to 2.32% of Nuance Investments, LLC’s 13F reportable assets under management as of Dec. 31, 2025.
- Top holdings after the filing:
- Clorox: $79.33 million (8.7% of AUM)
- California Water Service Group: $79.09 million (8.7% of AUM)
- Martin Transport: $71.32 million (7.9% of AUM)
- Werner Enterprises: $58.49 million (6.4% of AUM)
- Aspen Insurance: $57.18 million (6.3% of AUM)
As of Feb. 10, 2026, shares of Lindsay Corporation were priced at $134.89, up 5.23% over the past year, underperforming the S&P 500 by 9 percentage points.
Company/ETF overview
| Metric | Value |
|---|---|
| Price (as of market close February 10, 2026) | $134.89 |
| Market capitalization | $1.43 billion |
| Revenue (TTM) | $665.90 million |
| Net income (TTM) | $73.41 million |
Company/ETF snapshot
Lindsay:
- Provides irrigation systems, water management solutions, and road infrastructure products, including center-pivot and lateral-move irrigation systems, electronic controls, and movable barrier systems.
- Generates revenue through the manufacturing and sales of proprietary equipment and technology, aftermarket parts, and infrastructure safety products for the agriculture and transportation sectors.
- Serves agricultural producers, government transportation agencies, contractors, and distributors across the United States and international markets.
Lindsay Corporation is a leading provider of irrigation and infrastructure solutions, operating at scale with a market capitalization of $1.43 billion and annual revenue of $665.90 million (TTM). The company leverages its engineering expertise and established brands to address critical needs in global agriculture and roadway safety. Its diversified portfolio, spanning advanced irrigation technology and highway infrastructure products, positions Lindsay Corporation to serve both public- and private-sector clients seeking efficiency, sustainability, and safety improvements.
What this transaction means for investors
After selling Lindsay stock for eight consecutive quarters, Nuance Investments reversed course and quadrupled down on the company, increasing its holdings from 45,000 to 178,000. After Lindsay’s stock dropped over 25% in Q4, it is possible that the firm was able to rebuild its stake in the company on the dip -- and it appears to have been good timing so far.
As the market weighs the threat of AI disruption across specific industries, many asset-light niches like software have been crushed. However, asset-heavy firms -- which may be harder for AI to disrupt due to their physical nature (or perhaps even enhanced by AI) — have started the year successfully. Lindsay falls into this bucket, in my opinion. Its stock has spiked 20% over the last three months alone, seemingly benefiting from the market’s shift toward more “undisruptable” stocks.
Generating 86% of its revenue from irrigation systems and the remainder from road safety products (mostly road zippers), Lindsay’s physical operations won’t be disrupted wholly by AI anytime soon. If anything, AI could help make its equipment more efficient in any number of ways, making its products more valuable. Trading at 20 times earnings, Lindsay isn’t outrageously priced -- but it isn’t a growth stock anymore, either. I support Nuance’s decision to buy the stock as a steady-Eddie holding. However, I will personally look elsewhere, as Lindsay’s unavoidable cyclicality makes it hard to hold for the uber-long term, which I prefer.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lindsay. The Motley Fool has a disclosure policy.
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