US Bancorp DE Has $436,000 Holdings in Lineage, Inc. (NASDAQ:LINE)

Key Points

• US Bancorp DE significantly increased its holdings in Lineage, Inc. by 2,363.6%, bringing its total to 7,440 shares valued at $436,000 at the end of the last quarter.
• Lineage recently exceeded earnings expectations, reporting $0.81 EPS compared to analyst estimates of $0.75, with a revenue of $1.35 billion.
• Insider purchases included Sudarsan V. Thattai acquiring 3,563 shares and Chairman Kevin Patrick Marchetti purchasing 23,540 shares, indicating strong insider confidence in the company.

US Bancorp DE increased its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 2,363.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,440 shares of the company's stock after acquiring an additional 7,138 shares during the period. US Bancorp DE's holdings in Lineage were worth $436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. D1 Capital Partners L.P. raised its stake in Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after acquiring an additional 2,703,598 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock valued at $189,380,000 after purchasing an additional 1,550,478 shares in the last quarter. Darlington Partners Capital Management LP bought a new stake in shares of Lineage during the fourth quarter valued at about $90,491,000. Capital Research Global Investors lifted its holdings in Lineage by 100.0% in the fourth 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 during the period. Finally, Lunate Capital Ltd bought a new position in Lineage in the 1st quarter valued at about $35,178,000.

Lineage Stock Up 1.2%

Shares of LINE stock traded up $0.47 on Friday, hitting $40.70. The company's stock had a trading volume of 930,777 shares, compared to its average volume of 1,029,939. The stock has a market capitalization of $9.30 billion and a price-to-earnings ratio of -14.59. Lineage, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $88.00. The firm's fifty day moving average price is $43.36 and its 200-day moving average price is $50.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83.

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

Lineage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Scotiabank cut their target price on Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. KeyCorp reaffirmed a "sector weight" rating and set a $84.00 price target on shares of Lineage in a research note on Tuesday, July 1st. Bank of America reissued an "underperform" rating and issued a $42.00 price objective (down previously from $47.00) on shares of Lineage in a research note on Monday. Finally, Barclays decreased their target price on Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lineage has a consensus rating of "Hold" and a consensus target price of $58.55.

Insider Activity

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the company's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $42.28 per share, with a total value of $995,271.20. Following the transaction, the chairman directly owned 62,323 shares in the company, valued at approximately $2,635,016.44. This represents a 60.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai bought 3,563 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of 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 insiders.

About Lineage

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.