Northern Trust Corp Boosts Stake in Lineage, Inc. $LINE

Key Points

• Northern Trust Corp increased its stake in Lineage, Inc. by 2.2%, owning 385,441 shares worth approximately $22.6 million after purchasing additional shares in the first quarter.
• Lineage has seen notable insider activity, with significant purchases from executives, including a 80.61% increase in holdings by insider Sudarsan V. Thattai.
• Analysts have mixed ratings on Lineage, with an average rating of "Hold" and a consensus price target of $53.26, reflecting a decrease in target prices by several financial institutions.

Northern Trust Corp grew its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 385,441 shares of the company's stock after purchasing an additional 8,442 shares during the period. Northern Trust Corp owned approximately 0.17% of Lineage worth $22,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in LINE. Stifel Financial Corp raised its stake in Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock worth $206,000 after buying an additional 821 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Lineage during the fourth quarter valued at approximately $1,220,000. The Manufacturers Life Insurance Company raised its position in shares of Lineage by 1.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 33,855 shares of the company's stock worth $1,983,000 after purchasing an additional 532 shares during the period. Jane Street Group LLC raised its position in shares of Lineage by 78.5% during the fourth quarter. Jane Street Group LLC now owns 62,064 shares of the company's stock worth $3,635,000 after purchasing an additional 27,303 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Lineage by 35.6% in the 4th quarter. Ameriprise Financial Inc. now owns 84,805 shares of the company's stock worth $4,967,000 after purchasing an additional 22,265 shares in the last quarter.

Lineage Stock Performance

Shares of LINE traded down $0.10 during mid-day trading on Thursday, hitting $40.91. The stock had a trading volume of 337,226 shares, compared to its average volume of 1,022,760. Lineage, Inc. has a 52 week low of $38.83 and a 52 week high of $84.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The business has a fifty day moving average price of $42.22 and a 200-day moving average price of $48.52. The firm has a market cap of $9.36 billion, a P/E ratio of -14.66 and a beta of -0.22.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage's revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts expect that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were given a $0.5275 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 5.2%. Lineage's payout ratio is -75.63%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LINE. Piper Sandler dropped their price objective on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada lowered their target price on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a report on Monday, August 18th. Barclays decreased their price objective on Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Robert W. Baird dropped 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. Finally, Bank of America reiterated an "underperform" rating and set a $42.00 price target (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Lineage has an average rating of "Hold" and a consensus target price of $53.26.

Insiders Place Their Bets

In related news, Chairman Kevin Patrick Marchetti bought 12,345 shares of Lineage stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $40.44 per share, with a total value of $499,231.80. Following the acquisition, the chairman directly owned 74,668 shares of the company's stock, valued at $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares of the company's stock, valued at approximately $338,878.35. This represents a 80.61% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is currently owned by corporate insiders.

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.