Fairview Capital Investment Management LLC Takes $11.77 Million Position in Lineage, Inc. (NASDAQ:LINE)

Fairview Capital Investment Management LLC purchased a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 200,925 shares of the company's stock, valued at approximately $11,768,000. Fairview Capital Investment Management LLC owned 0.09% of Lineage at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Lineage in the 4th quarter valued at $681,572,000. Vanguard Group Inc. increased its holdings in Lineage by 4.4% in 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. D1 Capital Partners L.P. increased its holdings in Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after purchasing an additional 2,703,598 shares during the period. Baillie Gifford & Co. increased its holdings in Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after purchasing an additional 1,384,481 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after purchasing an additional 831,533 shares during the period.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Kevin Patrick Marchetti acquired 11,500 shares of Lineage stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the acquisition, the chairman now directly owns 27,733 shares in the company, valued at $1,213,318.75. This trade represents a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 40,237 shares of company stock valued at $2,174,220 in the last ninety days. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LINE. Morgan Stanley decreased their price objective on Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Barclays started coverage on Lineage in a report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price target for the company. Robert W. Baird decreased their price target on Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price target on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a report on Friday, January 17th. Finally, Citigroup started coverage on Lineage in a report on Friday, March 28th. They set a "neutral" rating and a $64.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.79.

Lineage Price Performance

Shares of NASDAQ LINE traded up $0.91 during mid-day trading on Friday, reaching $45.62. The company's stock had a trading volume of 944,468 shares, compared to its average volume of 1,268,537. The firm has a market capitalization of $10.43 billion and a PE ratio of -14.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The stock has a fifty day moving average of $55.05 and a two-hundred day moving average of $59.07. Lineage, Inc. has a 52 week low of $42.05 and a 52 week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage's revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Monday, March 31st. Lineage's payout ratio is -65.53%.

About Lineage

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.