315,952 Shares in Lineage, Inc. $LINE Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 315,952 Lineage shares worth approximately $13.7 million, representing about 0.14% of the company. Other major institutions, including Norges Bank, BlackRock, Morgan Stanley and Bank of America, have also recently built positions.
• Lineage’s CFO purchased 20,000 shares for roughly $826,600, while corporate insiders collectively own 71.6% of the stock. Analysts maintain a consensus “Hold” rating with an average price target of $44.07.
• Lineage reported quarterly EPS of $0.76, beating estimates by $0.98, and revenue of $1.36 billion. The company also pays a quarterly dividend of $0.5325, equivalent to a 5.4% annualized yield.

Legal & General Group Plc acquired a new position in Lineage, Inc. (NASDAQ:LINE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 315,952 shares of the company's stock, valued at approximately $13,665,000. Legal & General Group Plc owned approximately 0.14% of Lineage as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Lineage during the 4th quarter worth $482,255,000. BlackRock Inc. purchased a new stake in Lineage during the second quarter worth about $227,511,000. Darlington Partners Capital Management LP grew its position in Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company's stock worth $198,332,000 after buying an additional 1,605,810 shares during the period. Morgan Stanley grew its position in Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company's stock worth $175,607,000 after buying an additional 3,968,958 shares during the period. Finally, Bank of America Corp DE increased its holdings in Lineage by 712.1% in the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company's stock valued at $118,268,000 after buying an additional 3,165,593 shares in the last quarter.

Insider Activity

In related news, CFO Robb A. Lemasters acquired 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $41.33 per share, with a total value of $826,600.00. Following the completion of the purchase, the chief financial officer directly owned 49,500 shares in the company, valued at approximately $2,045,835. The trade was a 67.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 71.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LINE. Wall Street Zen upgraded shares of Lineage from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial lifted their price objective on Lineage from $44.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Barclays boosted their target price on Lineage from $34.00 to $35.00 and gave the stock an "underweight" rating in a research report on Friday, May 15th. Robert W. Baird set a $43.00 target price on Lineage in a report on Thursday, August 6th. Finally, Wells Fargo & Company dropped their price target on Lineage from $39.00 to $36.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $44.07.

Lineage Stock Performance

Shares of LINE opened at $39.32 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $42.40 and a 200-day simple moving average of $39.85. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $45.75. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of -54.61 and a beta of 0.84.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.98. The firm 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 was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities analysts forecast that Lineage, Inc. will post 2.51 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were given a $0.5325 dividend. This represents a $2.13 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Tuesday, June 30th. Lineage's dividend payout ratio is currently -295.83%.

Lineage 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.

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