Lineage, Inc. $LINE Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Lineage stake by 712.1% in the first quarter, acquiring 3.17 million additional shares to own 3.61 million shares worth approximately $118.3 million, or 1.59% of the company.
• Analysts remain cautious: Lineage has a consensus “Hold” rating and an average price target of $43.62, compared with shares trading around $40.64.
• Lineage’s latest results exceeded expectations, but investors face potential downside from an estimated $80 million-$100 million warehouse-fire cleanup, heightened regulatory scrutiny, and possible environmental liabilities.

Bank of America Corp DE grew its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 712.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,610,123 shares of the company's stock after acquiring an additional 3,165,593 shares during the period. Bank of America Corp DE owned about 1.59% of Lineage worth $118,268,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Lineage in the fourth quarter valued at approximately $482,255,000. Darlington Partners Capital Management LP lifted its stake in shares of Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company's stock valued at $198,332,000 after buying an additional 1,605,810 shares during the period. Morgan Stanley grew its holdings in shares of Lineage by 378.6% during the 4th 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 in the last quarter. State Street Corp boosted its stake in Lineage by 8.9% during the second quarter. State Street Corp now owns 1,780,270 shares of the company's stock worth $78,402,000 after buying an additional 145,742 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Lineage by 27.8% in the fourth quarter. Geode Capital Management LLC now owns 1,459,422 shares of the company's stock valued at $51,086,000 after acquiring an additional 317,646 shares during the period.

Analysts Set New Price Targets

LINE has been the subject of several recent analyst reports. Piper Sandler increased their price objective on Lineage from $35.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Robert W. Baird set a $43.00 price objective on Lineage in a report on Thursday. Truist Financial raised their target price on shares of Lineage from $44.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Wells Fargo & Company decreased their price objective on Lineage from $39.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, June 1st. Finally, Scotiabank reiterated a "sector perform" rating and issued a $45.00 target price on shares of Lineage in a report on Thursday, June 18th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Lineage currently has a consensus rating of "Hold" and an average price target of $43.62.

Lineage Trading Down 1.2%

Shares of Lineage stock opened at $40.64 on Friday. The firm has a market capitalization of $9.25 billion, a PE ratio of -56.44 and a beta of 0.85. 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 firm's 50 day moving average is $42.98 and its 200 day moving average is $39.29. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $45.75.

Lineage (NASDAQ:LINE - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $1.01. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.83%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The company's revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.49 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th were issued a dividend of $0.5325 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 annualized dividend and a yield of 5.2%. Lineage's payout ratio is -343.55%.

Trending Headlines about Lineage

Here are the key news stories impacting Lineage this week:

• Positive Sentiment: Second-quarter results exceeded expectations. Lineage reported adjusted funds from operations (FFO) of $0.76 per share, above the $0.71 consensus estimate, while revenue reached approximately $1.36 billion versus expectations of $1.35 billion. Revenue increased 0.8% year over year, although FFO declined from $0.81 per share in the prior-year quarter. Lineage beats Q2 FFO and revenue estimates
• Neutral Sentiment: Management outlined a substantial cleanup effort. Lineage expects to spend between $80 million and $100 million addressing the warehouse fire’s aftermath, including odor-control and remediation measures. The final financial impact and insurance coverage remain important uncertainties for investors. Lineage to spend $80 to $100 million on warehouse fire cleanup efforts
• Negative Sentiment: Regulatory pressure is intensifying. The South Coast Air Quality Management District is considering an abatement order and has added odor-control requirements following complaints about foul smells from the damaged facility. Regulators are scheduled to hear from Lineage officials, while residents continue to demand action. Lineage under fire at AQMD hearing
• Negative Sentiment: Potential environmental and liability risks remain. The EPA has requested information about a possible hazardous chemical release, and newly reported ammonia data has heightened concerns about public health and compliance. Prolonged cleanup, possible penalties, litigation, and reputational damage could pressure future earnings and cash flow. EPA letter and new ammonia data

Lineage Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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