Lineage, Inc. (NASDAQ:LINE) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 51.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 649,558 shares of the company's stock after selling 691,459 shares during the quarter. Nuveen Asset Management LLC owned 0.28% of Lineage worth $38,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LINE. Barclays PLC acquired a new stake in shares of Lineage in the third quarter worth $13,928,000. Alpha Cubed Investments LLC purchased a new stake in Lineage in the fourth quarter valued at $387,000. Janney Montgomery Scott LLC grew its position in Lineage by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company's stock worth $595,000 after purchasing an additional 185 shares during the period. Galvin Gaustad & Stein LLC purchased a new position in shares of Lineage during the 4th quarter valued at about $9,338,000. Finally, Renaissance Capital LLC raised its stake in shares of Lineage by 25.6% during the 4th quarter. Renaissance Capital LLC now owns 83,446 shares of the company's stock valued at $4,887,000 after buying an additional 16,990 shares during the last quarter.

Lineage Price Performance

LINE traded down $0.43 during midday trading on Monday, hitting $45.21. 704,253 shares of the company traded hands, compared to its average volume of 1,246,946. The business has a 50 day simple moving average of $52.46 and a two-hundred day simple moving average of $57.22. Lineage, Inc. has a 52-week low of $42.05 and a 52-week high of $89.85. The company has a market capitalization of $10.33 billion and a price-to-earnings ratio of -14.04. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. The business's revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.67%. Lineage's payout ratio is currently -65.53%.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company's stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, the chairman now directly owns 24,317 shares of the company's stock, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the purchase, the insider now owns 4,420 shares of the company's stock, valued at approximately $199,916.60. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 51,186 shares of company stock worth $2,666,159 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LINE shares. Robert W. Baird lowered their target price on Lineage from $70.00 to $64.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group lowered their price objective on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Barclays assumed coverage on shares of Lineage in a research note on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price objective on the stock. Bank of America cut shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price for the company. in a research note on Tuesday, May 6th. Finally, UBS Group lowered their price target on shares of Lineage from $62.00 to $49.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $67.58.

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.