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Opinions Brett Girard, CPA, CA, CFA
Lindsay Corp.LNNBUYJan 22, 2025
Stock price when the opinion was issued
As of Jun 11, 2026. Market Open.
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Using satellite technology to effectively position irrigation lines -- did OK in US, but struggled in Brazil. Construction business has been weakening, as demand hasn't been there. US spending hasn't been filtering down to this type of infrastructure.
Just wasn't performing, he ended up selling. Still sitting on the proceeds, waiting for opportunities.
Water irrigation equipment. Commodity prices are low, so farmers aren't buying systems. Satellite technology makes targeted irrigation cheaper. Road infrastructure business fairly stable. Capped costs. Earnings margins have gone up, so cashflow can be allocated to a higher dividend, R&D, and tuck-in acquisitions.
Serial acquirers tend to do better than the indices over a 10-20 year time horizon, and that's his focus.
David DriscollThe drop in commodity prices has hurt agricultural stocks, because farmers lack the money to buy irrigation equipment. But it remains a long-term buy and he's been adding shares. LNN's equipment is very good.
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Premium contentLindsay Corporation is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world's rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic® center pivot and lateral move agricultural irrigation systems and FieldNET® remote irrigation management and scheduling technology as well as irrigation consulting and design and industrial IoT solutions.
David DriscollDavid DriscollDavid DriscollHis resource of choice is water and wastewater. This company is into irrigation equipment. They've been able to advance, through technology, to have satellite shots of irrigation equipment so it can be controlled anywhere on the farm. 60% of sales are in the US and 40% is international, particularly in Brazil. Dividend yield of 1.4%. (Analysts price target is $83.)
David Driscoll
Pivot irrigation, which is the hardware component. The software component provides data analytics for crop moisture, alerts for leaks, etc. Very much domestic US sales, so will benefit from the America First policies.