Invesco Ltd. Trims Stock Position in Lineage, Inc. (NASDAQ:LINE)

Invesco Ltd. decreased its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 81.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,837 shares of the company's stock after selling 454,481 shares during the quarter. Invesco Ltd.'s holdings in Lineage were worth $6,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Lineage in the fourth quarter worth $681,572,000. Vanguard Group Inc. increased its holdings in shares of Lineage by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after buying an additional 408,526 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after buying an additional 1,384,481 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Lineage by 36.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after acquiring an additional 831,533 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Lineage in the 3rd quarter valued at about $173,115,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LINE shares. Citigroup began coverage on Lineage in a research note on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective on the stock. Mizuho cut their target price on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered their price target on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Scotiabank reiterated a "sector perform" rating and set a $56.00 price objective (down previously from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Finally, BNP Paribas began coverage on shares of Lineage in a research note on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lineage has a consensus rating of "Moderate Buy" and an average price target of $76.32.

Lineage Stock Performance

Shares of Lineage stock traded down $0.97 during trading on Thursday, reaching $47.26. The company's stock had a trading volume of 374,332 shares, compared to its average volume of 992,788. Lineage, Inc. has a 1-year low of $46.63 and a 1-year high of $89.85. The company has a 50-day simple moving average of $56.90 and a two-hundred day simple moving average of $60.88. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

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

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.46%.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

Lineage 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.