Northern Trust Corp Purchases 77,755 Shares of Lineage, Inc. (NASDAQ:LINE)

Northern Trust Corp lifted its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 376,999 shares of the company's stock after purchasing an additional 77,755 shares during the quarter. Northern Trust Corp owned about 0.17% of Lineage worth $22,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in Lineage during the fourth quarter worth about $681,572,000. D1 Capital Partners L.P. grew its holdings in shares of Lineage by 257.5% during the fourth 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. Baillie Gifford & Co. increased its position in shares of Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock worth $181,484,000 after purchasing an additional 1,384,481 shares during the last quarter. Capital Research Global Investors raised its stake in Lineage by 100.0% in the fourth quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock valued at $117,165,000 after purchasing an additional 1,000,433 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after purchasing an additional 831,533 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays assumed coverage on shares of Lineage in a report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price target on the stock. Bank of America cut Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price on the stock. in a research note on Tuesday, May 6th. Evercore ISI lowered their price target on Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. UBS Group cut their price objective on Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Citigroup began coverage on Lineage in a research report on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $69.74.

Lineage Trading Up 0.7%

LINE traded up $0.33 during trading on Friday, hitting $47.63. 1,098,253 shares of the stock traded hands, compared to its average volume of 1,259,933. The firm has a market capitalization of $10.89 billion and a P/E ratio of -14.79. Lineage, Inc. has a 12-month low of $42.05 and a 12-month high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The firm has a 50-day moving average of $53.91 and a 200 day moving average of $58.50.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $1.29 billion during 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 firm's revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Monday, March 31st. Lineage's dividend payout ratio (DPR) is currently -65.53%.

Insider Transactions at Lineage

In other Lineage news, insider Sudarsan V. Thattai purchased 4,420 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $45.23 per share, with a total value of $199,916.60. Following the completion of the purchase, the insider now directly owns 4,420 shares of the company's stock, valued at $199,916.60. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now 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 disclosure for this purchase can be found here. In the last three months, insiders have acquired 51,186 shares of company stock worth $2,666,159. 1.40% 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.