Wells Fargo & Company MN Has $2.52 Million Stock Holdings in Lineage, Inc. (NASDAQ:LINE)

Wells Fargo & Company MN grew its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 38.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,944 shares of the company's stock after buying an additional 11,973 shares during the quarter. Wells Fargo & Company MN's holdings in Lineage were worth $2,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in Lineage by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company's stock worth $595,000 after purchasing an additional 185 shares during the period. State of Alaska Department of Revenue increased its position in Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company's stock worth $1,740,000 after acquiring an additional 291 shares during the period. M&T Bank Corp grew its position in Lineage by 9.7% in the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company's stock worth $292,000 after purchasing an additional 439 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after buying an additional 448 shares during the period. Finally, EPIQ Capital Group LLC grew its position in Lineage by 10.9% during the fourth quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company's stock worth $301,000 after buying an additional 500 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LINE shares. Scotiabank reissued a "sector perform" rating and set a $56.00 price objective (down previously from $74.00) on shares of Lineage in a report on Thursday, April 10th. Mizuho dropped their price target on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Barclays initiated coverage on shares of Lineage in a research note on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price objective on the stock. Royal Bank of Canada dropped their target price on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, Robert W. Baird reduced their price target on Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.63.

Lineage Stock Performance

NASDAQ LINE traded down $8.26 during trading on Wednesday, reaching $48.23. 4,278,389 shares of the company's stock were exchanged, compared to its average volume of 1,259,446. Lineage, Inc. has a fifty-two week low of $46.63 and a fifty-two week high of $89.85. The business has a 50 day moving average price of $56.90 and a 200-day moving average price of $60.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.34 billion. The company's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Monday, March 31st.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business's stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now owns 24,317 shares in the company, valued at $1,471,178.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by company 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.