Machina Capital S.A.S. Acquires Shares of 8,749 Lineage, Inc. (NASDAQ:LINE)

Key Points

• Machina Capital S.A.S. has invested approximately $513,000 in Lineage, Inc. by acquiring 8,749 shares, marking a significant new position for the institutional investor.
• Lineage, Inc. recently announced a quarterly dividend of $0.5275, resulting in an annualized dividend of $2.11 and a yield of 4.84% despite a negative payout ratio of -65.53%.
• Analyst ratings for Lineage show a mix of sentiment, with three sell ratings, ten hold ratings, and seven buy ratings, reflecting a cautious outlook with an average target price of $61.15.

Machina Capital S.A.S. purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,749 shares of the company's stock, valued at approximately $513,000.

A number of other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Lineage during the fourth quarter valued at about $681,572,000. Vanguard Group Inc. lifted its position 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 in the last quarter. D1 Capital Partners L.P. lifted its position in shares of Lineage by 257.5% during 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 in the last quarter. Janus Henderson Group PLC increased its holdings in Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after buying an additional 1,550,478 shares during the last quarter. Finally, Capital World Investors increased its holdings in Lineage by 22.5% during the fourth quarter. Capital World Investors now owns 3,064,842 shares of the company's stock worth $179,508,000 after buying an additional 563,078 shares during the last quarter.

Lineage Trading Down 0.9%

Shares of LINE traded down $0.38 during mid-day trading on Monday, reaching $43.22. The company's stock had a trading volume of 164,540 shares, compared to its average volume of 992,300. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. Lineage, Inc. has a 52 week low of $40.49 and a 52 week high of $89.85. The company's fifty day moving average price is $44.00 and its two-hundred day moving average price is $51.60. The stock has a market cap of $9.88 billion and a PE ratio of -13.41.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage's revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's payout ratio is -65.53%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Evercore ISI decreased their price objective on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Robert W. Baird reduced their target price on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. BNP Paribas Exane downgraded shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price for the company. in a research note on Thursday, June 12th. Finally, UBS Group reduced their target price on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.15.

Insider Buying and Selling

In related news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of Lineage stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $43.75 per share, with a total value of $503,125.00. Following the transaction, the chairman owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of Lineage stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the transaction, the chairman owned 35,266 shares in the company, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 26,869 shares of company stock valued at $1,194,980 over the last three months. 71.90% of the stock is owned by company insiders.

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.