Corient Private Wealth LP Purchases Shares of 86,997 Lineage, Inc. $LINE

Key Points

• Corient Private Wealth initiated a 86,997-share position in Lineage valued at approximately $3.8 million, while other major institutions—including Norges Bank, BlackRock and Bank of America—also recently acquired or expanded stakes.
• Lineage shares opened at $38.79, down 1.2%, below the analyst consensus target of $44.20. Analysts’ overall rating is Hold, with five Buys, nine Holds and three Sells.
• The company beat quarterly earnings expectations with $0.76 in EPS versus a projected loss of $0.22 and reported $1.36 billion in revenue. Lineage also maintains a quarterly dividend of $0.5325 per share, equivalent to a 5.5% annualized yield.

Corient Private Wealth LP purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 86,997 shares of the company's stock, valued at approximately $3,763,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Lineage during the 4th quarter valued at about $482,255,000. BlackRock Inc. acquired a new stake in Lineage during the second quarter worth approximately $227,511,000. Morgan Stanley grew its stake 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 purchasing an additional 3,968,958 shares during the period. Bank of America Corp DE bought a new stake in Lineage in the second quarter worth approximately $156,045,000. Finally, Darlington Partners Capital Management LP increased its holdings in Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company's stock worth $198,332,000 after purchasing an additional 1,605,810 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LINE shares. The Goldman Sachs Group set a $53.00 price target on Lineage in a report on Wednesday, August 12th. Piper Sandler dropped their target price on shares of Lineage from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Thursday, August 27th. Scotiabank reissued a "sector perform" rating and set a $45.00 target price on shares of Lineage in a research note on Thursday, June 18th. Wells Fargo & Company increased their target price on shares of Lineage from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Royal Bank Of Canada raised their price target on shares of 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 given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Lineage currently has a consensus rating of "Hold" and a consensus target price of $44.20.

Lineage Stock Down 1.2%

Shares of NASDAQ:LINE opened at $38.79 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. Lineage, Inc. has a 52-week low of $31.33 and a 52-week high of $45.75. The business's 50 day simple moving average is $42.34 and its two-hundred day simple moving average is $39.84. The firm has a market cap of $8.83 billion, a P/E ratio of -53.87 and a beta of 0.82.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts forecast that Lineage, Inc. will post 2.51 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Tuesday, June 30th. Lineage's payout ratio is -295.83%.

Insiders Place Their Bets

In other Lineage news, CFO Robb A. Lemasters acquired 20,000 shares of the stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares in the company, valued at approximately $2,045,835. This represents a 67.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kevin Patrick Marchetti acquired 25,000 shares of the company's stock in a transaction on Friday, August 28th. The stock was acquired at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the purchase, the chairman directly owned 138,690 shares of the company's stock, valued at approximately $5,478,255. This represents a 21.99% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 71.60% of the company's stock.

About Lineage

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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