Villere ST Denis J & Co. LLC Grows Holdings in Lineage, Inc. (NASDAQ:LINE)

Villere ST Denis J & Co. LLC lifted its holdings in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,303 shares of the company's stock after purchasing an additional 14,790 shares during the period. Lineage comprises approximately 2.7% of Villere ST Denis J & Co. LLC's holdings, making the stock its 17th biggest holding. Villere ST Denis J & Co. LLC owned 0.21% of Lineage worth $27,750,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LINE. Norges Bank purchased a new position in shares of Lineage during the 4th quarter worth approximately $681,572,000. D1 Capital Partners L.P. increased its stake in shares of Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after purchasing an additional 2,703,598 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after purchasing an additional 1,550,478 shares in the last quarter. Darlington Partners Capital Management LP acquired a new stake in Lineage during the fourth quarter worth approximately $90,491,000. Finally, Capital Research Global Investors boosted its position in Lineage by 100.0% during the fourth quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock worth $117,165,000 after acquiring an additional 1,000,433 shares during the last quarter.

Insider Activity

In other news, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, with a total value of $491,938.57. Following the purchase, the chairman now directly owns 35,266 shares of the company's stock, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the purchase, the chairman now directly owns 27,733 shares in the company, valued at $1,213,318.75. This trade represents a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 26,869 shares of company stock valued at $1,194,980. Company insiders own 71.90% of the company's stock.

Analysts Set New Price Targets

LINE has been the topic of a number of analyst reports. BNP Paribas Exane lowered shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price on the stock. in a research report on Thursday, June 12th. The Goldman Sachs Group decreased their target price on shares of Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. BNP Paribas set a $42.00 target price on shares of Lineage in a research report on Thursday, June 12th. Royal Bank Of Canada decreased their target price on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Scotiabank decreased their target price on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $62.10.

Lineage Trading Down 1.7%

Shares of LINE stock traded down $0.76 during mid-day trading on Friday, reaching $44.09. The company's stock had a trading volume of 1,163,423 shares, compared to its average volume of 1,205,167. The company's 50 day simple moving average is $46.66 and its 200-day simple moving average is $53.88. Lineage, Inc. has a 12-month low of $41.88 and a 12-month high of $89.85. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $10.08 billion and a PE ratio of -13.69.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. The business's quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Monday, June 30th. Lineage's dividend payout ratio is presently -65.53%.

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.