Lineage, Inc. (NASDAQ:LINE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 99.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,866 shares of the company's stock after selling 2,119,925 shares during the period. Principal Financial Group Inc.'s holdings in Lineage were worth $637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LINE. FIL Ltd purchased a new position in Lineage during the 4th quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in Lineage during the 1st quarter valued at about $34,000. Quarry LP purchased a new position in Lineage during the 4th quarter valued at about $50,000. Global X Japan Co. Ltd. purchased a new position in Lineage during the 1st quarter valued at about $74,000. Finally, Parallel Advisors LLC purchased a new position in Lineage during the 1st quarter valued at about $151,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LINE shares. Citigroup reduced their price objective on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. JPMorgan Chase & Co. lowered shares of Lineage from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $55.00 to $50.00 in a research note on Monday, June 23rd. Bank of America lowered shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price target for the company. in a research note on Tuesday, May 6th. Evercore ISI reduced their price target on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Finally, Barclays reduced their price target on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lineage presently has an average rating of "Hold" and a consensus target price of $61.15.

Lineage Trading Up 1.9%

Shares of NASDAQ LINE traded up $0.85 during mid-day trading on Wednesday, reaching $44.50. The company had a trading volume of 972,947 shares, compared to its average volume of 1,200,406. The business's 50-day moving average is $44.19 and its 200-day moving average is $51.92. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. The stock has a market cap of $10.17 billion and a price-to-earnings ratio of -13.82. Lineage, Inc. has a 52 week low of $40.49 and a 52 week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. Lineage's revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were paid a dividend of $0.5275 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.74%. Lineage's payout ratio is -65.53%.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the transaction, the chairman directly owned 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 is available through the SEC website. Also, insider Sudarsan V. Thattai acquired 4,420 shares of the firm's stock in a transaction on Monday, May 5th. The stock was purchased at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the acquisition, the insider directly owned 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 26,869 shares of company stock valued at $1,194,980 in the last 90 days. 71.90% of the stock is currently owned by company 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.