Legal & General Group Plc Buys 46,488 Shares of Lineage, Inc. $LINE

Legal & General Group Plc lifted its stake in Lineage, Inc. (NASDAQ:LINE) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 428,280 shares of the company’s stock after purchasing an additional 46,488 shares during the period. Legal & General Group Plc’s holdings in Lineage were worth $14,990,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its holdings in Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Lineage by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock worth $874,000 after acquiring an additional 350 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares during the period. Allworth Financial LP lifted its stake in shares of Lineage by 106.6% during the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock valued at $33,000 after acquiring an additional 485 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Lineage by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,005 shares of the company’s stock valued at $70,000 after acquiring an additional 502 shares during the last quarter.

Lineage Trading Down 2.4%

NASDAQ:LINE opened at $42.98 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $46.99. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of -69.32 and a beta of 0.88. The business’s 50-day moving average price is $37.08 and its two-hundred day moving average price is $36.69.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $1.01. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. On average, equities analysts expect that Lineage, Inc. will post 2.39 earnings per share for the current year.

Lineage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Investors of record on Tuesday, March 31st were issued a dividend of $0.5325 per share. This is an increase from Lineage’s previous quarterly dividend of $0.53. This represents a $2.13 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, March 31st. Lineage’s dividend payout ratio is presently -343.55%.

Insider Buying and Selling

In other news, Chairman Kevin Patrick Marchetti bought 13,300 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $37.50 per share, for a total transaction of $498,750.00. Following the completion of the acquisition, the chairman owned 113,690 shares in the company, valued at approximately $4,263,375. This trade represents a 13.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 71.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler lowered their price objective on Lineage from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Wall Street Zen raised shares of Lineage from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 19th. Barclays lifted their price target on shares of Lineage from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, May 15th. Royal Bank Of Canada boosted their price target on shares of Lineage from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Finally, Citigroup increased their price objective on shares of Lineage from $38.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $43.56.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.