Nuveen LLC Takes Position in Lineage, Inc. $LINE

Key Points

• Nuveen LLC acquired a new stake in Lineage, Inc. by purchasing 639,065 shares worth approximately $37.47 million, representing 0.28% ownership by the end of the first quarter.
• The company's recent quarterly earnings report showed an EPS of $0.81, surpassing expectations, alongside a revenue of $1.35 billion, a year-over-year increase of 0.9%.
• Lineage announced a quarterly dividend of $0.5275 per share, yielding 5.2%, with an ex-dividend date of June 30, 2023.

Nuveen LLC bought a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 639,065 shares of the company's stock, valued at approximately $37,468,000. Nuveen LLC owned approximately 0.28% of Lineage as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in LINE. D1 Capital Partners L.P. boosted its position 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 boosted its position 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 purchased a new stake in shares of Lineage during the 4th quarter worth $90,491,000. Capital Research Global Investors boosted its position in shares of Lineage by 100.0% during the 4th quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock worth $117,165,000 after purchasing an additional 1,000,433 shares in the last quarter. Finally, Lunate Capital Ltd purchased a new stake in shares of Lineage during the 1st quarter worth $35,178,000.

Insider Transactions at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the company's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $42.28 per share, with a total value of $995,271.20. Following the purchase, the chairman directly owned 62,323 shares in the company, valued at $2,635,016.44. The trade was a 60.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai acquired 3,563 shares of the company's stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $42.45 per share, with a total value of $151,249.35. Following the purchase, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. 71.90% of the stock is currently owned by corporate insiders.

Lineage Trading Up 1.6%

NASDAQ:LINE traded up $0.63 on Tuesday, reaching $40.02. The stock had a trading volume of 789,460 shares, compared to its average volume of 1,027,676. The company has a market cap of $9.16 billion and a price-to-earnings ratio of -14.34. 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 firm's fifty day moving average is $43.16 and its two-hundred day moving average is $49.79. Lineage, Inc. has a 12-month low of $39.37 and a 12-month high of $88.00.

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

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Monday, June 30th. Lineage's dividend payout ratio is -75.63%.

Analysts Set New Price Targets

Several research firms recently commented on LINE. Robert W. Baird decreased their price objective on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. Wells Fargo & Company decreased their price objective on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Scotiabank decreased their price objective 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. BNP Paribas Exane lowered shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 price objective on the stock. in a research report on Thursday, June 12th. Finally, Citigroup decreased their price objective on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $53.56.

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.