Legal & General Group Plc Has $14.99 Million Holdings in Lineage, Inc. $LINE

Key Points

• Legal & General Group Plc boosted its Lineage stake by 12.2% in the fourth quarter, ending with 428,280 shares valued at about $14.99 million.
• Lineage reported better-than-expected quarterly earnings, posting $0.78 EPS versus analyst expectations of a loss, while revenue came in at $1.30 billion, slightly below estimates.
• The company recently raised its quarterly dividend to $0.5325 per share, implying a 5.0% yield, even as analysts remain cautious with an average rating of "Reduce".

Legal & General Group Plc increased its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 428,280 shares of the company's stock after purchasing an additional 46,488 shares during the period. Legal & General Group Plc owned about 0.19% of Lineage worth $14,990,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Royal Bank of Canada lifted its position in Lineage by 15.2% in the first quarter. Royal Bank of Canada now owns 4,956 shares of the company's stock worth $290,000 after purchasing an additional 653 shares during the period. AQR Capital Management LLC bought a new stake in Lineage in the 1st quarter valued at $886,000. Millennium Management LLC increased its holdings in Lineage by 197.0% in the 1st quarter. Millennium Management LLC now owns 288,518 shares of the company's stock valued at $16,916,000 after buying an additional 191,362 shares during the period. Invesco Ltd. raised its stake in shares of Lineage by 15.5% in the 2nd quarter. Invesco Ltd. now owns 148,086 shares of the company's stock valued at $6,445,000 after buying an additional 19,927 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after buying an additional 362 shares in the last quarter.

Lineage Stock Performance

NASDAQ:LINE opened at $42.98 on Wednesday. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $46.99. The firm has a 50 day moving average of $37.08 and a 200-day moving average of $36.69. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $9.79 billion, a P/E ratio of -69.32 and a beta of 0.88.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $0.86 EPS. Lineage's revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lineage, Inc. will post 2.39 EPS for the current fiscal year.

Lineage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.5325 per share. The ex-dividend date was Tuesday, March 31st. This is a boost from Lineage's previous quarterly dividend of $0.53. This represents a $2.13 annualized dividend and a dividend yield of 5.0%. Lineage's dividend payout ratio (DPR) is currently -343.55%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LINE. Weiss Ratings reiterated a "sell (d)" rating on shares of Lineage in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Lineage from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 19th. Morgan Stanley upped their price objective on Lineage from $39.00 to $47.00 and gave the company an "equal weight" rating in a research note on Tuesday. Citigroup increased their target price on Lineage from $38.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. Finally, Wells Fargo & Company cut their target price on Lineage from $39.00 to $36.00 and set an "equal weight" rating for the company in a research report on Monday. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $43.56.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 13,300 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $37.50 per share, with a total value of $498,750.00. Following the completion of the acquisition, the chairman directly owned 113,690 shares of the company's stock, valued at $4,263,375. This represents a 13.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company 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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