315,952 Shares in Lineage, Inc. $LINE Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in Lineage, Inc. (NASDAQ:LINE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 315,952 shares of the company’s stock, valued at approximately $13,665,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Lineage during the 4th quarter worth $482,255,000. BlackRock Inc. acquired a new stake in shares of Lineage during the second quarter worth $227,511,000. Morgan Stanley grew its position in shares of Lineage by 378.6% in the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after purchasing an additional 3,968,958 shares during the period. Bank of America Corp DE grew its position in shares of Lineage by 712.1% in the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock valued at $118,268,000 after purchasing an additional 3,165,593 shares during the period. Finally, Darlington Partners Capital Management LP increased its stake in Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Mizuho upgraded Lineage from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $47.00 in a research report on Tuesday, July 28th. Weiss Ratings upgraded Lineage from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. UBS Group upped their price objective on shares of Lineage from $35.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Barclays increased their price objective on shares of Lineage from $34.00 to $35.00 and gave the stock an “underweight” rating in a report on Friday, May 15th. Finally, Scotiabank reissued a “sector perform” rating and issued a $45.00 target price on shares of Lineage in a research report on Thursday, June 18th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.07.

Lineage Stock Performance

LINE stock opened at $39.32 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. The company has a market cap of $8.95 billion, a price-to-earnings ratio of -54.61 and a beta of 0.84. The business has a fifty day simple moving average of $42.40 and a 200-day simple moving average of $39.85. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $45.75.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts expect that Lineage, Inc. will post 2.51 EPS for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were paid a $0.5325 dividend. This represents a $2.13 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Lineage’s payout ratio is currently -295.83%.

Insider Buying and Selling at Lineage

In other news, CFO Robb A. Lemasters bought 20,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the acquisition, the chief financial officer owned 49,500 shares of the company’s stock, valued at $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 71.60% of the stock is owned by corporate insiders.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.