Lineage, Inc. (NASDAQ:LINE) Shares Bought by Capital Research Global Investors

Capital Research Global Investors raised its holdings in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,000,433 shares of the company's stock after buying an additional 1,000,433 shares during the period. Capital Research Global Investors owned about 0.88% of Lineage worth $117,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Lineage during the 4th quarter valued at $681,572,000. Vanguard Group Inc. boosted its stake in shares of Lineage by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock valued at $562,003,000 after purchasing an additional 408,526 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock worth $181,484,000 after purchasing an additional 1,384,481 shares during the last quarter. Victory Capital Management Inc. increased its stake in Lineage by 36.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock worth $180,811,000 after buying an additional 831,533 shares during the period. Finally, Capital World Investors lifted its holdings in Lineage by 22.5% during the 4th quarter. Capital World Investors now owns 3,064,842 shares of the company's stock valued at $179,508,000 after buying an additional 563,078 shares in the last quarter.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company's stock in a transaction on Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Lineage Stock Performance

Shares of Lineage stock traded down $0.53 during trading on Friday, reaching $55.85. The company's stock had a trading volume of 518,602 shares, compared to its average volume of 1,248,925. The company has a 50-day simple moving average of $56.95 and a two-hundred day simple moving average of $61.31. Lineage, Inc. has a 1-year low of $46.63 and a 1-year high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.78%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LINE. Robert W. Baird dropped their target price on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Scotiabank restated a "sector perform" rating and set a $56.00 price objective (down from $74.00) on shares of Lineage in a report on Thursday, April 10th. Morgan Stanley lowered their target price on Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Mizuho dropped their price target on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price objective on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.63.

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.