Lineage, Inc. $LINE Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Lineage, Inc. by 8.3%, owning 566,040 shares valued at approximately $33.2 million after acquiring 43,242 shares in the first quarter.
• Several institutional investors have significantly increased their holdings in Lineage, with D1 Capital Partners L.P. boosting its stake by 257.5% during the fourth quarter.
• Lineage recently reported earnings of $0.81 per share, exceeding expectations, and announced a quarterly dividend of $0.5275 per share, reflecting a yield of 5.4%.

Charles Schwab Investment Management Inc. grew its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 566,040 shares of the company's stock after acquiring an additional 43,242 shares during the period. Charles Schwab Investment Management Inc. owned 0.25% of Lineage worth $33,187,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd raised its position in Lineage by 419.2% in the first quarter. XTX Topco Ltd now owns 30,733 shares of the company's stock worth $1,802,000 after acquiring an additional 24,814 shares during the period. Lunate Capital Ltd bought a new position in Lineage in the first quarter worth approximately $35,178,000. GAMMA Investing LLC raised its position in Lineage by 3,141.4% in the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company's stock worth $863,000 after acquiring an additional 14,262 shares during the period. M&T Bank Corp raised its position in Lineage by 174.5% in the first quarter. M&T Bank Corp now owns 13,690 shares of the company's stock worth $803,000 after acquiring an additional 8,703 shares during the period. Finally, Galvin Gaustad & Stein LLC raised its position in Lineage by 20.9% in the first quarter. Galvin Gaustad & Stein LLC now owns 192,786 shares of the company's stock worth $11,303,000 after acquiring an additional 33,360 shares during the period.

Insider Activity

In other news, insider Sudarsan V. Thattai acquired 3,563 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider directly owned 7,983 shares of the company's stock, valued at $338,878.35. The trade was a 80.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Kevin Patrick Marchetti acquired 12,345 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $40.44 per share, with a total value of $499,231.80. Following the completion of the acquisition, the chairman directly owned 74,668 shares of the company's stock, valued at $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 39,448 shares of company stock valued at $1,645,752 over the last 90 days. 71.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on LINE shares. The Goldman Sachs Group reduced their price objective on shares of Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Morgan Stanley cut shares of Lineage from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $75.00 to $50.00 in a research note on Monday, June 23rd. Wells Fargo & Company reduced their price objective on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Barclays reduced their price objective on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. downgraded Lineage from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $55.00 to $50.00 in a research note on Monday, June 23rd. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $53.56.

Lineage Price Performance

Lineage stock traded down $0.09 during mid-day trading on Thursday, reaching $39.09. 880,788 shares of the company's stock traded hands, compared to its average volume of 1,024,594. The company has a market cap of $8.94 billion and a price-to-earnings ratio of -14.01. The stock has a 50 day moving average of $42.93 and a two-hundred day moving average of $49.65. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. Lineage, Inc. has a 12-month low of $38.83 and a 12-month high of $86.60.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. The business's revenue was up .9% on a year-over-year basis. Equities analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Monday, June 30th. Lineage's payout ratio is presently -75.63%.

Lineage Company 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.