Deutsche Bank AG acquired a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 131,507 shares of the company's stock, valued at approximately $5,688,000. Deutsche Bank AG owned about 0.06% of Lineage as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Lineage by 11.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company's stock valued at $32,415,000 after purchasing an additional 93,188 shares during the period. Norges Bank acquired a new stake in shares of Lineage in the 4th quarter valued at approximately $482,255,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Lineage during the 1st quarter worth $2,009,000. Legal & General Group Plc grew its position in Lineage by 12.2% during the fourth quarter. Legal & General Group Plc now owns 428,280 shares of the company's stock worth $14,990,000 after buying an additional 46,488 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Lineage by 122.2% during the first quarter. Quantinno Capital Management LP now owns 104,661 shares of the company's stock worth $3,429,000 after purchasing an additional 57,553 shares during the last quarter.
Insider Activity at Lineage
In related news, CFO Robb A. Lemasters purchased 20,000 shares of Lineage stock in a transaction on Friday, August 7th. The stock was bought at an average price of $41.33 per share, with a total value of $826,600.00. Following the completion of the transaction, the chief financial officer directly owned 49,500 shares of the company's stock, valued at approximately $2,045,835. This represents a 67.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 71.60% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several analysts have issued reports on LINE shares. Barclays upped their price target on shares of Lineage from $34.00 to $35.00 and gave the company an "underweight" rating in a report on Friday, May 15th. Robert W. Baird set a $43.00 price target on Lineage in a research note on Thursday, August 6th. Wells Fargo & Company lowered their price objective on shares of Lineage from $39.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, June 1st. UBS Group raised their price target on shares of Lineage from $35.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Finally, Piper Sandler upped their price target on Lineage from $35.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $44.20.
Read Our Latest Research Report on LINE
Lineage Stock Down 1.9%
LINE opened at $40.80 on Tuesday. Lineage, Inc. has a one year low of $31.33 and a one year high of $45.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. The company has a market capitalization of $9.29 billion, a PE ratio of -56.67 and a beta of 0.84. The stock's fifty day moving average is $42.53 and its 200-day moving average is $39.79.
Lineage (NASDAQ:LINE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.98. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.Lineage's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, equities analysts predict that Lineage, Inc. will post 2.49 EPS for the current fiscal year.
Lineage Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th were issued a $0.5325 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a yield of 5.2%. Lineage's dividend payout ratio is currently -295.83%.
Lineage Company Profile
(
Free Report)
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.
See Also
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