Invesco Ltd. Has $7.51 Million Stock Position in Lineage, Inc. $LINE

Key Points

• Invesco Ltd. increased its stake in Lineage, Inc. by 23.4% in the first quarter, owning 128,159 shares valued at approximately $7.51 million.
• Insider purchases were notable, with Sudarsan V. Thattai and Chairman Kevin Patrick Marchetti significantly increasing their holdings by 80.61% and 60.70% respectively.
• Lineage, Inc. reported a momentum in quarterly earnings with earnings per share of $0.81, exceeding analyst estimates, and declared a quarterly dividend of $0.5275 per share.

Invesco Ltd. grew its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 23.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 128,159 shares of the company's stock after buying an additional 24,322 shares during the period. Invesco Ltd. owned 0.06% of Lineage worth $7,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LINE. Janus Henderson Group PLC increased its stake in shares of Lineage by 92.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock valued at $189,380,000 after buying an additional 1,550,478 shares during the period. Darlington Partners Capital Management LP acquired a new stake in shares of Lineage during the fourth quarter worth $90,491,000. Lunate Capital Ltd bought a new stake in Lineage in the first quarter valued at about $35,178,000. Alyeska Investment Group L.P. lifted its stake in Lineage by 70.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,196,848 shares of the company's stock valued at $70,099,000 after buying an additional 492,680 shares during the period. Finally, GRS Advisors LLC boosted its holdings in Lineage by 223.2% during the fourth quarter. GRS Advisors LLC now owns 336,954 shares of the company's stock worth $19,735,000 after buying an additional 232,687 shares during the last quarter.

Insider Buying and Selling

In other Lineage news, insider Sudarsan V. Thattai purchased 3,563 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of the transaction, the insider directly owned 7,983 shares in the company, valued at $338,878.35. This represents a 80.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the transaction, the chairman owned 62,323 shares of the company's stock, valued at approximately $2,635,016.44. The trade was a 60.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 39,448 shares of company stock worth $1,645,752. Company insiders own 71.90% of the company's stock.

Lineage Price Performance

NASDAQ:LINE opened at $41.77 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The stock's 50-day simple moving average is $42.70 and its 200 day simple moving average is $49.15. The company has a market cap of $9.56 billion and a P/E ratio of -14.97. Lineage, Inc. has a 52-week low of $38.83 and a 52-week high of $86.60.

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

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's payout ratio is -75.63%.

Analyst Upgrades and Downgrades

LINE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut Lineage from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $55.00 to $50.00 in a report on Monday, June 23rd. Scotiabank reduced their target price on Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Robert W. Baird reduced their target price on Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Wells Fargo & Company reduced their target price on Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Finally, KeyCorp restated a "sector weight" rating and set a $84.00 target price on shares of Lineage in a report on Tuesday, July 1st. Seven investment 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 MarketBeat, the company has an average rating of "Hold" and a consensus target price of $53.53.

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.

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