35,600 Shares in Lineage, Inc. $LINE Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems established a new Lineage position, buying 35,600 shares worth approximately $1.215 million in the third quarter.
• Lineage’s CFO and chairman also made sizable stock purchases, while company insiders collectively own 71.6% of shares.
• Analysts’ consensus rating is Hold, with an average price target of $41.93; the company reported quarterly revenue of $1.36 billion and declared an annualized dividend of $2.13 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Lineage, Inc. (NASDAQ:LINE - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,600 shares of the company's stock, valued at approximately $1,215,000.

Several other large investors have also added to or reduced their stakes in the stock. Paralel Advisors LLC purchased a new position in Lineage during the 2nd quarter valued at $26,000. Global Retirement Partners LLC purchased a new stake in shares of Lineage in the 2nd quarter worth about $48,000. Root Financial Partners LLC purchased a new stake in shares of Lineage in the 3rd quarter worth about $49,000. Parallel Advisors LLC lifted its position in shares of Lineage by 172.7% in the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company's stock worth $54,000 after purchasing an additional 1,045 shares during the period. Finally, Wealth Enhancement Trust Services Inc. boosted its stake in shares of Lineage by 88.4% during the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company's stock valued at $66,000 after purchasing an additional 914 shares in the last quarter.

Insider Transactions at Lineage

In other Lineage news, CFO Robb A. Lemasters acquired 20,000 shares of the company'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 of the company's stock, valued at approximately $2,045,835. The trade was a 67.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Kevin Marchetti acquired 25,000 shares of the business's stock in a transaction on Friday, August 28th. The stock was acquired at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the acquisition, the chairman owned 138,690 shares of the company's stock, valued at approximately $5,478,255. This trade represents a 21.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 71.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LINE. UBS Group reduced their price target on shares of Lineage from $45.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 20th. Scotiabank lowered their price objective on shares of Lineage from $44.00 to $39.00 and set a "hold" rating for the company in a report on Friday, October 2nd. Weiss Ratings upgraded shares of Lineage from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 6th. The Goldman Sachs Group set a $44.00 price objective on Lineage and gave the company a "buy" rating in a research report on Monday, October 26th. Finally, Royal Bank Of Canada upped their target price on Lineage from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $41.93.

Lineage Stock Performance

Shares of Lineage stock opened at $38.61 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $8.79 billion, a P/E ratio of -53.62 and a beta of 0.79. The business has a fifty day simple moving average of $36.31 and a two-hundred day simple moving average of $38.69. Lineage, Inc. has a 12 month low of $31.33 and a 12 month high of $45.75.

Lineage (NASDAQ:LINE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.76 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 analysts' expectations of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. On average, equities analysts forecast that Lineage, Inc. will post 2.47 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Wednesday, September 30th were paid a $0.5325 dividend. This represents a $2.13 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Wednesday, September 30th. Lineage's dividend payout ratio (DPR) is presently -295.83%.

Lineage Company Profile

Lineage, Inc NASDAQ: LINE is a real estate investment trust that owns and operates temperature-controlled warehouses and related cold-chain infrastructure. The company provides storage, handling and logistics services for food and other perishable products, helping customers preserve product quality as goods move from producers and manufacturers to retailers and consumers.

Its services include refrigerated and frozen warehousing, transportation coordination, inventory management, food distribution and supply-chain technology.

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