Handelsbanken Fonder AB Purchases Shares of 16,900 Lineage, Inc. $LINE

Handelsbanken Fonder AB purchased a new stake in Lineage, Inc. (NASDAQ:LINE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,900 shares of the company’s stock, valued at approximately $735,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LINE. American Century Companies Inc. increased its holdings in Lineage by 1,396.7% during the 1st quarter. American Century Companies Inc. now owns 230,847 shares of the company’s stock worth $13,535,000 after purchasing an additional 215,423 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Lineage by 110.2% during the second quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock worth $998,000 after buying an additional 12,021 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Lineage by 8.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock worth $33,187,000 after buying an additional 43,242 shares in the last quarter. Nuveen LLC bought a new position in shares of Lineage during the first quarter worth about $37,468,000. Finally, Jump Financial LLC acquired a new stake in Lineage in the 1st quarter valued at approximately $950,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a research report on Friday, November 14th. UBS Group reduced their target price on shares of Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Bank of America reaffirmed an “underperform” rating and issued a $42.00 target price (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Robert W. Baird cut their price target on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Finally, Truist Financial reduced their price objective on shares of Lineage from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $45.17.

Insiders Place Their Bets

In other Lineage news, CFO Robert Crisci bought 10,000 shares of Lineage stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $34.56 per share, for a total transaction of $345,600.00. Following the purchase, the chief financial officer owned 107,859 shares of the company’s stock, valued at $3,727,607.04. The trade was a 10.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robb A. Lemasters bought 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $33.74 per share, for a total transaction of $1,012,200.00. Following the completion of the acquisition, the chief financial officer directly owned 60,000 shares in the company, valued at $2,024,400. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 129,000 shares of company stock valued at $4,366,940. Corporate insiders own 71.90% of the company’s stock.

Lineage Stock Performance

Shares of LINE stock opened at $35.80 on Friday. The stock has a market cap of $8.17 billion, a P/E ratio of -45.31 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. The company has a fifty day moving average price of $37.88 and a two-hundred day moving average price of $41.27. Lineage, Inc. has a one year low of $32.46 and a one year high of $65.57.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. Lineage’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. As a group, equities analysts predict that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were paid a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 5.9%. Lineage’s dividend payout ratio is currently -267.09%.

Lineage Profile

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.